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VoL XXXVI No 
Wtole No. 192 


NOV / DEC 1997 









What’s The Best Way 
To Sell Your Paper Money Collection 


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The best way to sell your collection is to consign it to 
someone you trust. Your currency collection probably took years 
to acquire. Each purchase was thoughtfully considered, each note 
carefully stored, and handled with respect. The sale of your 
collection should be accomplished in the .same manner. Carefully, 
and thoughtfully. 

At Smythe, we care about our coasignors, our bidders, and 
our staff members. We don’t mis-grade your lots, or sell them long 
after midnight, or during convention hours. We strongly support 
the show organizers and local clubs that work hard to make 
paper money shows successful, and we are proud that we have 
consistently been selected as one of the Official Auctioneers of the 
Memphis International Paper Money Show. 

We illastrate every major note, using boxes or color where 
appropriate. Each note is carefully graded and researched by our 
nationally recognized, full-time paper money experts. 

Our rates are flexible and highly competitive. There are no lot 
charges, photo charges or minimum charges on Federal Currency. 

If you are thinking of selling, lake advantage of the strongest 
currency market we have seen in years, and lake this opportunity 
to showcase your better single items, or your entire collection, in 
the next R. M. Smythe auction. 


1997 -1998 
Auction Schedule 

December 11, 1997. Coins, Tokens Medals and Related Items. 
Accepting consignments through November I, 1997. 

January 23-24, 1998. Stocks, Bonds and Related Items. Official 
Auctioneers for the F.leventh Annual Strasburg Stock and Bond 
Show. Accepting consignments through December 8, 1997. 

February 21, 1998. Currency, Stocks & Bonds. Official 
Auctioneers for the Chicago Paper Money Exchange. Accepting 
consignments through January 5, 1998. 

June 19-20, 1998. Paper Money, Stocks & Bonds. Official 
Auctioneers for the Memphis International Paper Money Show 
& Auction. Accepting consignments through May 5, 1998. 

To Consign, please call Stephen Goldsmith at 800-622-1880 or 
212-943-1880. 

To Subscribe: Only subscribers can be fully assured of receiving 
our fully-illustrated thoroughly-researched catalogues. Do you 
need to check on the status of your subscription? Call Marie Alberti 
or Mary Herzog at 800-622-1880 or 212-943-1880. A one year 
subscription to all RMS catalogues is $70 (SlOO overseas). Other 
subscription plans arc available. Call today. 


See Us At Close To 40 Shows This Year! We will be planning to attend almost every major numismatic 
show, represented by Stephen Goldsmith, Lucien Birkler, Bruce Hagen, Dr. Douglas Ball or Martin 
Gengerke. If necessary, we will travel to see your collection. Call 800-622-1880 for further information. 



Stephen GoMsnMh 
Bruce Hagen 
members 




26 Broadway, Suite 271, New York, NY 10004-1701 


MEMBER 


r 


AN INDEX TO 
PAPER MONEY 
VOLUME 26, 1997 
Nos. 187-192 


No. Page 


Anschuetz, Robert R. II 

Carmi A. Thompson signature notes, illus 190 115 

Bennett, Frank 

National bank notes Series 1929, supple- 
ment XX 191 143 

Bolduc, Bob 

Currency and computers 189 89 

Bonneau, Pierre 

Scripophily corner, illus 189 83 

192 193 

Clark, Frank 

About Texas mostly, illus. 

A. R. Davis: Garland, Texas banker 191 141 

Samuel |. Moore and Canadian bank notes . . . 187 6 

The Farmers .National Bank of Hillsboro, Texas ..189 78 

The First National Bank in Cooper, Texas 190 119 

The National banks in Plano, Texas 188 43 

Cochran, Bob 

A backed-up buck from the Huntsville Hotel 

Company, illus 187 13 

Bank happenings 191 165 

May 1 see some identification, please? 192 197 

None outstanding all redeemed, not so!, illus. . 191 161 

"Oh, is that what that means?", illus 189 78 

SPMC's 1929-1935 overprinted national 

currency projea 189 72 

The basics 189 70 

COLONIAL & CONTINENTAL CURRENCY 
Bonanza at the flea market, illus. Ned W. 

Downing 187 3 

CONFEDERATE 

The Confederate Indian princess counterfeit 

illus. George B. Tremmel 188 35 

The last bond of the lost cause, illus. lohn 

Martin Davis, Ir 190 123 

The last bond of the lost cause (addendum) 

John Martin Davis, Ir 192 191 

Daniel, Fon'est W. 

Green goods game, illus 187 5 

Money tales 187 14 

191 162 

State bank notes redeemed by national banks, 

illus 189 67 

When the nation's cash was counted, illus 191 139 

Davis, John Martin, Jr. 

The last bond of the lost cause, illus 190 123 

The last bond of the lost cause (addendum) ... 192 191 

Dean, Charles A. 

The First National Bank of Cardiff, illus 189 80 

The First National Bank of Smyrna, Tennessee 

and John Norman Barnett, illus 191 151 

Dewey, W.S. and D.D. Gladfelter 

Bergen Iron Works scrip, illus 189 73 

Downing, Ned W. 

Bonanza at the flea market, illus 187 3 


No. Page 


Ellenbogen, Raphael 

The celebrated Naramore bank note detector 
cards, illus 187 15 

The royal family of small-size currency errors, 

illus 189 79 

ENGRAVERS & ENGRAVING 

A review of the work of John S. Wallace, 

illus. Mark D. Tomasko 190 107 

Fisher, Jack H. 

The First National Banks of Paxton, Illinois and 

Sir William Paxton, illus 190 122 

Gardner, Tom 

A sentimental bank note 191 155 

A story teller's bank note, illus 187 20 

Gladfelter, D. and S. Dewey 

Bergen Iron Works scrip, illus 189 73 

Hessler, Gene 

A cinematic short snoner, illus 191 164 

Bank note subjects as models for apprentice 

engravers, illus 189 84 

The buck starts here, a primer for colleaors, 

illus 187 21 


189 93 

191 163 

192 196 

Hussein, Mohamad H. 


Birds on world paper money, illus 188 38 

The petroleum industry illustrated on world 

paper money, illus 191 156 

Huntoon, Peter 
The paper column, illus. 

Correaions for No. 187 188 47 

30 years of looking pays off. 188 47 

$2 legal tender Series of 1928C and Series of 

1928D BA block non-mules 187 7 

U. S small-size $5 mules 192 179 

Where are the Paia territory of Hawaii 

nationals? 189 69 

Kelly, Don C. 

Hawaii's national banks, illus 189 45 

Kvederas, Bob Sr. & Jr. 

Varieties of Series 1993 $ 1 web notes 191 160 

Lloyd, Robert H. 

Jerg Gisze, illus 192 197 

Syngraphic vignettes 

Hoards! I 188 37 

Hoards! il 189 91 

Hoards! Ill 190 127 

McDannel, Ken 

National bank notes series 1929 189 69 

National bank notes Series 1929, supplement 

XX, illus., Frank Bennett 191 143 

190 114 

NEW LITERATURE 189 91 

National bank notes, a guide with prices, 

Don C. Kelly 189 92 



No. Page 


No. Page 

Paper money of Serbia and Yugoslauia, 

Zeljko Stojanovic 189 92 

TTie comprehensive catalog of U.S. paper money, 

Gene Hessler 189 92 

OBSOLETE NOTES & SCRIP 
Bergen Iron Works scrip, illus., D.D. Gladfelter & 

W.S. Dewey 189 73 

Real, loaquin Gil del Real 

The first bank in Panama, illus 188 48 

Schein, Howard 

Ordering uncut sheets in 1951, illus 189 90 

Schmidt, Bob 

Missouri road overseer's certificate, illus 188 51 

SOCIETT OF PAPER MONEY COLLECTORS 

Annual awards descriptions 188 52 

Candidates for the SPMC board of governors .. 188 53 

In memoriam 

David Ray Arnold 189 94 

George D. Hatie 191 168 

H.C. lohnson 192 199 

New members 187 24 

188 53 

189 95 

190 128 

President's column 187 22 

STOCK CERTIFICATES & BONDS 
A bonanza at the flea market, illus. Ned W. 

Downing 187 3 

See The Scripophily Comer 
Stratton, Mike 

Modem mules, illus 190 120 


Tomasko, Mark D. 

A review of the work of John S Wallace, illus. .. 190 107 

U. S. LARGE-SIZE NOTES 
See Syngraphic Vignettes 
Carmi A. Thompson signature notes, 

illus. Robert R. Anschuetz II 190 115 


U.S. NATIONAL BANK NOTES 
Carmi A. Thompson signature notes, 

illus. Robert R. Anschuetz II 190 115 

Hawaii's national banks, illus. Don C. Kelly ... 188 45 

National bank notes series 1929, Ken 

McDannel 189 69 

190 114 

National bank notes Series 1929, supplement 

XX, illus 191 143 

None outstanding all redeemed, not so!, illus.. 

Bob Cochran 191 161 

See About Texas Mostly, Frank Clark 

See The Paper Column, Peter Huntoon 

State bank notes redeemed by national banks, 

illus., Forrest W. Daniel 189 67 

The First National Bank of Cardiff, Charles A. 

Dean 189 80 

U.S. SMALL-SIZE NOTES 
30 years of looking pays off, illus. Peter 

Huntoon 188 47 

Modem mules, illus. Mike Stratton 190 120 

$2 legal tender series of 1928C & series of 1928D 
BA block non-mules, illus., Peter Huntoon . . 187 7 

Varieties of Series 1993 $1 web notes, illus. 

Bob Kvederas Sr. & Jr 191 160 

WORLD PAPER MONEY 

Bank notes subjects as models for apprentice 

engravers, illus., G. Hessler 189 84 

Birds on world paper money, illus. Mohamad 

H. Hussein 188 38 

The first bank in Panama, illus. Joaquin Gil 

del Real 188 48 

The petroleum industry illustrated on world 

paper money, illus. Mohamad H. Hussein ...191 156 


Information for Authors 

(in addition to what is on the first page of every journal) 


Sources should be listed as follows: 

Haxby, J. ( 1 988). Standard catalog of United States obsolete Bank 

notes. Vols. . lola, WI: Krause Pub. 

History of the Bureau of Engraving and Printing 1862-1962. 

(1964). Washington, DC: U.S. Treasury Department. 
Huntoon, P. (1988). The earliest national bank title changes. 
PAPER MONEY. 27, 103-1 14. 

Morris, T.R.; B.R. Mueller. (Ed.). (1968). Tlte life and works of 
Thomas F. Morris 1852-1989. Published by the author. 

In place of footnotes put the author's name and page refer- 
ence in parentheses, e.g. (Huntoon 68) at the appropriate place. 
If there is more than one author reference for the same year. 


add the date and vol. (in ital.), e.g. (Huntoon 1988, 27, 105). 
If an author is not listed, use an identifying word from the 
title, e.g., (History 60). 

If additional or extensive reference data is necessary, use 
endnotes with corresponding numbers rather than the pre- 
ceding. 

Manuscript and abstract references will be rearranged only if 
necessary. 

Authors may send biographies ( 1 00 words minimum) empha- 
sizing hobby-related information. Articles will be published 
as soon as possible: please be patient. 



Paper Money Whole No. 1 92 


Page 1 77 



SOCIETV 

OF 

PAPER MONEY 
COLLECTORS 
INC. 




PAPER MONEY is published every other month 
beginning in lanuaty by The Society of Paper 
Money Collectors. Second class postage paid at 
Dover, DE 19901. Postmaster send address 
changes to: Bob Cochran, Secretary, P.O. Box 
1085, Florissant, MO 63031, 

® Society ofPaper Money Collectors, Inc., 1997. 
All rights reserved. Reproduction of any article, 
in whole or in part, without express written 
permission, is prohibited 

Individual copies of this issue of PAPER 
MONEY are available from the Secretary for 
$2.75 each plus $ 1 postage, five or more copies 
are sent postage free. 



Official Bimonthly Publication of 

The Sodety of Paper Money Collectors, Inc. 


Vol. XXXVI No. 6 Whole No. 192 NOV/DEC 1997 
ISSN 0031-1162 

GENE HESSLER, Editor, P.O. Box 31144, Cincinnati, OH 45231 

Manuscripts (mss), not under consideration elsewhere, and publications for review 
should be sent to the Editor. Accepted mss will be published as soon as possible; however, 
publication in a specific issue cannot be guaranteed. Opinions expressed by authors do 
not necessarily reflect those of the SPMC, 

Mss are to be typed on one side only, double-spaced with at least one-inch margins. A 
copy should be retained by the author. The author's name, address and telephone 
number should appear on the first page. 

In addition, although it is not required, you are encouraged to submit a copy on a 3'/} 
or 5'/4 inch MS DOS disk, identified with the name and version of software used: 
Microsoft Word, Word Perfect or text (ASCII), etc. If disk is submitted, double-spaced 
printout must accompany disk. 


ADVERTISING RATES 


SPACE 

Outside 

I TIME 

3 TIMES 

6 TIMES 

Back Cover 

Inside Front & 

$152 

$420 

$825 

Back Cover 

$145 

$405 

$798 

Full Page 

$140 

$395 

$775 

Half-page 

$75 

$200 

$390 

Quarter-page 

$38 

$105 

$198 

Eighth-page 

$20 

$55 

$105 


To keep rales at a minimum, advenising must be 
prepaid in advance according to the above sched- 
ule. In exceptional cases where special artworkor 
extra typing are required, the advertiser will be 
notified and billed extra for them accordingly. 

Rates are not commissionable. Proofs are not 
supplied. 

Deadline: Copy must be in the editorial office 
no later than the 1st of the month preceding 
issue (e.g., Feb. 1 for March/April issue). With 
advance notice, camera-ready copy will be ac- 
cepted up to three weeks later. 

Mechanical Requirements: Full page 42-57 pi- 
cas; half-page may be either vertical or horizon- 
tal in format. Single column width, 20 picas. 
Halftones acceptable, but not mats or stereos. 
Page position may be requested but cannot be 
guaranteed. 

Advertising copy shall be restricted to paper 
currency and allied numismatic material and 
publications and accessories related thereto. 
SPMC does not guarantee advertisements but 
accepts copy in good faith, reserving the right to 
reject objectionable material or edit any copy. 

SPMC assumes no financial responsibility for 
typographical errors in advertisements, but agrees 
to reprint that portion of an advertisement in 
which typographical error should occur upon 
prompt notification of such error. 

Al I advertising copy and correspondence should 
be sent to the Editor. 


IN THIS ISSUE 
THE PAPER COLUMN 

LI.S. SMALL-SIZE $5 MULES 

Peter Huntoon 179 

THE LAST BOND OF THE LAST CAUSE (ADDENDUM) 

lohn Martin Davis, )r 191 

ABOLrr TEXAS MOSTLY 

THE STORY OF THE STORE SCRIP OF lAMES M. SMOOT 
OF DENTON, TEXAS 

Frank Clark 192 

THE SCRIPOPHILY CORNER 

Pierre Bonneau 193 

THE BUCK STARTS HERE 

Gene Hessler 196 

lERG GISZE 

Robert Lloyd 197 

MAY 1 SEE SOME IDENTIFICATION, PLEASE? 

Bob Cochran 197 


SOCIETY FEATURES 

THE PRESIDENTS COLUMN 198 

CALL FOR NOMINATIONS 198 

AWARDS ATTHE 1997 NEW YORK ANA 198 

INMEMORIAM:H.C. lOHNSON 199 

NEW MEMBERS 199 

MONEY MART 200 


For change of address, inquiries concerning non-delivery of 
PAPER MONEY and for additional copies of this issue contact 
the Secretary; the address is on the next page. For earlier issues 
contaa Classic Coins, P.O. Box 95, Allen, MI 49227. 


ON THE COVER. This is the 55th anniversary of the awarding of the 
Nobel Peace Prize to explorer, humanitarian, scientist and statesman 
Fridjof Nansen. The ponraii appears on the 10 kroner note from 
Norway, 1972-1984. 





SOCIETY OF PAPER MONEY COLLECTORS 
OFFICERS 

PRESIDENT 

ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031 

VICE-PRESIDENT 

FRANK CLARK, P.O. Box 1 17060, Carrollton, TX 7501 1 
SECRETARY 
TO BE APPOINTED. 

TREASURER 

MARK ANDERSON, 400 Court St., #1, Brooklyn, NY 
11231 

APPOINTEES 

EDITOR GENE HESSLER, P.O. Box 3 1 1 44, 

Cincinnati, OH 45231 
MEMBERSHIP DIRECTOR 
FRANK CLARK, P.O. Box 117060, Carrollton, TX 7501 1 

WISMER BOOK PROJECT 

STEVEN K. WHITFIELD, 14092 W. 1 15th St., Olathe, KS 
66062 

LEGAL COUNSEL 

ROBERT). GALIETTE, 3 Teal Lane, Essex, CT 06246 

LIBRARIAN 

ROGER H. DURAND, P.O. Box 186, Rehoboth, MA 02769 

PAST-PRESIDENT 

DEAN OAKES, Drawer 1456, Iowa City, lA 52240 


COORDINATOR: 1929-1935 OVERPRINTED NATIONAL 
CURRENCY PROJECT 

FRANK BENNETT, P.O. Box 8722, Port St. Lucie, FL 
34885 

BOARD OF GOVERNORS 

RAPHAEL ELLENBOGEN, 1840 Harwitch Rd., Upper 
Arlington, OH 43221 

GENE HESSLER, P.O. Box 31144, Cincinnati, OH 45231 

RON HORSTMAN, 5010 Timber Lane, Gerald, MO 63037 

MILTON R. FRIEDBERG, 8803 Brecksville Rd. #7-203, 
Brecksville, OH 44141-1933 

JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 
27114 

STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901 

WENDELL W. WOLKA, P.O. Box 569, Dublin, OH 43017 

STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 
66062 


The Society of Paper Money Collectors was organized 
in 1961 and incorporated in 1964 as a non-profit or- 
ganization under the laws of the District of Columbia. 
It is affiliated with the American Numismatic Associa- 
tion. The annual meeting is held at the Memphis IPMS 
in June. 

MEMBERSHIP — REGULAR and LIFE. Applicants must 
be at least 18 years of age and of good moral character. 
JUNIOR. Applicants must be from 12 to 18 years of age 
and of good moral character. Their application must be 
signed by a parent or guardian. They will be preceded by 
the letter "j". This letter will be removed upon notifica- 
tion to the secretary that the member has reached 18 
years of age. Junior members are not eligible to hold 
office or vote. 


Members of the ANA or other recognized numismatic 
societies are eligible for membership. Other applicants 
should be sponsored by an SMPC member or provide 
suitable references. 

DUES — Annual dues are $24. Members in Canada and 
Mexico should add $5 to cover additional postage; 
members throughout the rest of the world add $10. Life 
membership, payable in installments within one year, is 
$500. Members who join the Society prior to Oct. 1st 
receive the magazines already issued in the year in 
which they join. Members who join after Oct. 1st will 
have their dues paid through December of the following 
year. They will also receive, as a bonus, a copy of the 
magazine issued in November of the year in which they 
joined. 


BUYING and SELLING 


CSA and Obsolete Notes 
CSA Bonds, Stocks & 
Financial Items 


60-Page Catalog for $5.00 
Refundable With Order 


HUGH SHULL 


ANA-LM 

SCNA 

PCDA CHARTER MBR. 


P.O. Box 761, Camden, SC 29020 

FAX 803-432-9958 


(803) 432-8500 


SPMC-UA 6 
BRNA 
FUN 



Paper Mone}’ Whole No. 192 


Page 1 79 


U.S. Small-Size 

$5 Mules 

ABSTRACT 

Mules in the $5 denomination offer the sophisticated U.S. 
small-size note specialist the most challenging of all the mule 
varieties to collect. There are two major groups of $5 mules, 
ordinary mules that were produced during the micro to macro 
transition period and extraordinary mules that were produced 
from two unusual micro back plates — 629 and 637. 

Ordinary $5 silver certificate (SC) and legal tender (LT) back 
and face mule production spanned the period January 1 0, 1938 
to February 14, 1940. Ordinary Federal Reserve note (FRN) 
mule produaion took place between July 31, 1941 and Janu- 
ary 23, 1946. The delay in the FRN printings resulted because 
there was no $5 FRN production between May 19, 1937 and 
July 11, 1941. 

The extraordinary $5 mule printings from micro back 637 
occurred between June 23, 1945 and June 15, 1949; whereas 
those involving 629 lasted only from November 17, 1947 to 
February 2, 1948. The 637 and 629 printings involved SC, LT 
and FRN production. When micro back 637 finally was taken 
out of service in 1949 more than eleven years had elapsed since 
introduction of the macro size plate numbers. 

MULES 

HE classical definition of a mule is a note that has a 
mirco-size plate number on one side and a macro-size 
plate number on the other. Micro numbers measure 
0.6 mm high whereas the macro numbers are 1 mm high. (See 
Figure 1.) 


The first macro plate to go to press was the number 1 Series 
of 1 935A $ 1 silver certificate face on January 6, 1 938. The first 
$ 1 macro back, plate 930, went to press three weeks later on 
January 28. Consequently, the first of the 1935A faces were 
mated with micro backs, producing mules. The first $5 macro 
face plates went to press on January 10, 1938. These were Se- 
ries of 1934A SC plates 562, 563 and 564, and production 
from them was mated with micro backs resulting in the first 
$5 mules of any type. 

The SI 1935A SC sheets were competing with $5 1934A 
SCs for the distinction of being the first mules to be serial num- 
bered. The $5s won. The first mule to be numbered was a $5 
1 934A SC bearing D5035200 1 A on Januaiy' 25, 1938. The first 
$1 1935ASC mule, M07668001A, was numbered the next day. 
The first muled star note was printed two days later on Janu- 
ary 28, a $1 1935A with serial *17076001 A. 

Macro plates for the other classes and denominations gradu- 
ally came on line in succeeding months. Often they were placed 
on the presses side by side with micros. Figures 2 and 3 illus- 
trate, and Tables 1 and 2 document, the overlapping usage of 
plates. Mules flowed for the next 15 years as Bureau of Engrav- 
ing and Printing employees used up stocks of serviceable 12- 
subject micro plates. Mules ceased in 1953 when the last of 
the 12-subject $50 and $100 micro backs used to print Fed- 
eral Reserve Notes were finally phased out following full con- 
version to 18-subject presses. 

To understand mule produaion, it is important to know 
the rudiments of the printing process. The backs were printed 
first, then the faces, and finally the seals and serial numbers. 
The flat bed presses then in use for back and face production 
normally carried four 12-subjea plates. However, fewer plates 
could be on a press, even just one. 

The plates circulated around the bed of the press and pro- 
duced a stream of sheets in which the plate numbers cycled 
through the plates present. Both micro and macro plates were 
commonly mixed on a given press. This was occurring on both 





Figure I. Comparison between micro, intermediate, and macro size plate numbers. 


I ' THE PAPER COLUMN 

by Peter Huntoon 


the back and face presses during the height of the mule era so 
as many as four varieties were being printed at once. 

The 12-subjea sheets were cut in half down the middle be- 
fore the seals and serials were applied. Next the seals and seri- 
als were printed with numbering advancing consecutively 
from top to bottom on the six subjects in the half sheets. 
The notes were then cut apart and stacked in numerical order. 



BACKS 



Figure 2. Graph showing the periods of use and overlaps between the serial number block letters, series, varieties, and various design elements on $5 
1928 series legal tender notes and 1934 series silver certificates. The serial number block letters are the bold pairs of letters above the bold horizontal 
bars. 













FACES 


Paper Money Whole No. 1 92 


Page 181 


^ ^ in 

;Dh«coa>^^CMCO'^^(Oh.aoo>^<- 


<«^(Oh>aOO>^^CJCO^^<Oh<*COO>^i- 


34YH 34^ 


I34C 
I— I34D 


+GA ►h#GB4-| h*GC 


341 1 

34AI 


I34C 

M34D 


■BA — ►!- 


34YI 1 34^ 


H I I34A 

34BI-H 
34B212I— I 


IH BD 


H34C 
I— I34D 


34 Y I 1 


^34C 

I-I34D 


34Y1 1 


34YI 1 


H 34A H 
34B I — 


34YI— I 341— 

34Ah 


M CB 


'lh*EB 


Hh-FB 


H34C 

M34D 


34YI — I 


.bVi 


I 341 — I 

HAWAII I 1 

I 34AI- 


■Yellow-Green Ink 


Use of stockpiled 1935*7 Series of 1934 sheets 



I I I I I I I I I I I I I I I I I 

inioN®o>o^oicOi^in<ofs.floo>o’“ 
52 S S >0 

o> o> o> 


I t I I i ( I I [ I T 1 I r 1 ^ 

^ lo® ?s.oo o>0’”ojco^in® N® 

® ^ ® 

o> ® A o> 


Figure 3. Graph showing the periods of use and overlaps between the serial number block letters, series, varieties, and various design elements 
on $5 1 934 series Federal Reserve notes for each of the twelve districts. The large letters to the left of the columns denote the twelve districts. The 
bold pairs of letters between the horizontal arrows are the serial number letter blocks. 34Y refers to Series of 1934 notes with yellow-green seals. 









Page 1 82 


Paper Money Whole No. 1 92 


Table 1. Intervals during which $5 1934 series silver certificate and 1928 series legal 1934A GA block mules, and the 

tender faces were printed, and the low and high face plate numbers used. SC Series of 1934A HA block 

Data from Bureau of Engraving and Printing (undated). mules. The silver cenificate 1934A 


Series 

First Use 

Last Use 

$5 Silver Certificates 




1934 

lun 

16, 1934 

Sep 

16, 1938 

1934A 

Ian 

10, 1938 

|un 

21, 1946 

1934B 

Ian 

23, 1946 

Feb 

26, 1947 

1934C 

Oct 

29, 1946 

Mar 

13, 1950 

1934D 

Oct 

17, 1949 

Sep 

11, 1953 

S5 Legal Tender Notes 




1928 

May 

1, 1929 

Nov 

23, 1933 

1928A 

Oct 

24, 1932 

Nov 

23, 1933 

1928B 

Apr 

16, 1934 

May 23, 1939 

1928C 

Aug 

2, 1938 

May 27, 1946 

1928D 

Feb 

27, 1946 

Sep 

26, 1946 

1928E 

Sep 

12, 1946 

May 

1, 1950 

1928F 

Mar 

13, 1950 

Feb 

26, 1953 

Consequently, if you have several consecutive notes, you will 


find that the plate letters will rotate through the half sheets, 
either A, B, C, D, E, F and back to A, or G, H, 1, J, K, L and back 
to G. 

In addition, the plate numbers on the notes will also cycle 
through the different plates on the press as you come to the F 
to A, or L to G pairs. If a mix of micro and macro plates was on 
the press, such as $5 SC 1934 and 1934A faces, forward and 
reverse changeover pairs will be present which are, respectively, 
consecutively serial numbered notes that alternate from 1934 
to 1934A, or 1934A to 1934. 


GA and HA mules are rare. (See 


Plate Numbers 

Figure 4.) 

Low 

High 

Federal Reserve mule produc- 

Used 

Used 

tion was complicated by two fac- 
tors. First, no $5 FRNs were 
printed between May 19, 1937, 

1 

561 

and luly 11, 1941, which elimi- 

562 

1765 

nated the possibility for any yel- 

1769 

1872 

low-green seal Series of 1 934 and 

1875 

2031 

1934A mules. Second, when FRN 

2035 

2171 

production for the various dis- 
irias resumed in 1941 and 1942, 

5 

408 

many micro face plates were still 

3 

175 

serviceable and were used 

1 

287 

through 1946, to produce large 

288 

522 

quantities of ordinary Series of 

524 

550 

1934 blue-green seal mules. How- 

566 

627 

ever, all the regular micro backs 

628 

683 

were gone by then, so no ordinary 
FRN Series of 1934A mules were 
possible. Even without micro 
back mules, ordinary FRN mule 

production from the micro Series of 1934 face plates outlasted 


that of the ordinary SCs and LTs by six years. 

Table 4 lists the rich trove of ordinary $5 mule blocks that 
was made. However, this list is not the whole story. 

The big surprise came on November 10, 1944 when an an- 
cient $5 electrolytic master basso bearing number 637 dating 
from 1935 was completed as a production back plate. It first 
went to press on lune 23, 1945, and was used rather continu- 
ously until lune 15, 1949. In the meantime, a second ancient 
back plate — 629 — was discovered which had already been 
completed but never used. It was used for only one press run 


$5 MULES 

By far, the most interesting mules involved the three $5 classes. 
The $5 mule era spanned almost eleven and a half years, from 
the first use of $5 SC 1934A macro face 562 on lanuary 10, 
1938, until the last use of micro back 637 on lune 15, 1949. 

There are two distinrt groups of $5 mules: ( 1 ) ordinary mules 
that were produced during the micro to macro transition pe- 
riod, and (2) what can only be called extraordinary mules that 
were produced from maverick micro back plates 629 and 637. 
Back plates 629 and 637 were sent to press in the late 1940s, 
long after the other $5 micro backs had worn out. 

Plenty of ordinary $5 mule varieties were produced during 
the micro to macro transition period. The produaion of $5 LT 
and SC mules followed a pattern typical of the other denomi- 
nations. Specifically, there was intermbdng of micro and macro 
faces and backs for a reasonably shon period until the last of 
the micro plates wore out (Table 3). For example, concurrent 
usage of lulian-Morganthau LT micro 1928B and macro 1928C 
faces occurred for just a little over nine months between Au- 
gust 2, 1938 and May 23, 1939. Similarly, usage of $5 SC mi- 
cro 1934 and macro 1934A faces overlapped from lanuary 10 
to September 16, 1938, a period of eight months. 

Micro and macro $5 backs served side-by-side for just un- 
der two years, from March 16, 1938 until February 14, 1940. 
Faces, seals and serial numbers were printed on the last ordi- 
nary micro back sheets in mid- 1940. They became the last of 


Table 3. Dates when the last ordinary micro and first or- 
dinary macro $5 plates were used. 


Type 

Last Micro 

Type 

First Macro 

Faces 

SC 1934 

Sep 16, 1938 

SC 1934A 

Ian 

10, 1938 

LT 1928B 

May 23, 1939 

LT 1928C 

Aug 

2, 1938 

FRN 1934 

Ian 23, 1946 

FRN 1934 A 

lul 

31. 1941 

Backs 

micro 

Feb 14, 1940 

macro 

Mar 

16, 1938 



Figure 4. Rare $5 silver certificate Series of 1 934 A GA block mule printed 
from micro back plate 905, the last ordinary micro back plate in production. 
Micro back 905 left the press on February 14, 1940. This note was num- 
bered in 1940. 




Table 2. Intervals during which $5 1934 series Federal Reserve faces were printed. Data not available for Series of 1934D. Data from Bureau of Fngraving atui Printing (undated). 



Page 183 

Table 4. List of reported ordinary $5 mule blocks. See 
Table 9 for the mules from $5 back plates 629 and 
637. 

Series Blocks 

Silver Certificates: 

1934 EA 

1934A DA, EA, FA, GA, HA, ‘A 

Legal Tender Notes: 

1928B EA, 'A 

1928C EA, FA, 'A 

Federal Reserve Notes: 

1934 AA, A* 

BA, BB, B* 

CA, C* 

DA, D* 

EA, E’ 

FA, F* 

GA, G* 

HA, H* 
lA, 1* 
lA, r 
KA, K* 

L*, la Hawaii, L* Hawaii 

that lasted from November 17, 1 947 through February 2, 1948. 
These extraordinary back plates produced a plethora of our 
rarest and most eagerly sought mules. 

$5 SILVER CERTIFICATE KA BLOCK 

As shown in Figure 2 and Table 5, the rate of $5 SC produc- 
tion fell dramatically between late 1942 and early 1946. The 
result is that the printing of the 100 million notes that com- 
prise the KA block was stretched out over three and a half years 
instead of being completed in less than one year. Coinciden- 
tally, more varieties were introduced during this period than 
at any other time in $5 SC history (Ton, 1987). Ttius, the KA 
block contains a diverse group of $5 oddities. 

Included were the following types: (1) interspersed regular 
Series of 1934A blue seals, (2) sbe groups of Series of 1934A 
North Africa/Italy yellow seals, (3) Series of 1934A late-ftnished 
face plate 307 blue seals, (4) Series of 1934A late-ftnished face 
plate 307 yellow seals, (5) the first of the Series of 1934B print- 
ings, (6) micro back plate 637 Series of 1934A mules, and (7) 
micro back plate 637 Series of 1934B mules. The first Series of 
1934B bore serial K90480001A and was delivered February 6, 
1946 (Shafer, 1967). 

As shown in Table 6, $5 SC late-ftnished face plate 307 was 
started as a micro Series of 1934 plate in 1936, but not com- 
pleted until 1942, during the macro era. It was made into a 
Series of 1 934A with macro plate numbers. The plate number 
307 is decidedly of micro vintage, contrasting with the other 
1934A numbers that range from 562 to 1765. Thus, it makes 
for an interesting oddity. Plate 307 was used between July 1942 
and June 1943, to print 47,437 sheets (569,244 notes), which 
received both blue and yellow seals (O'Donnell, 1977). The 
blue seals are decidedly scarce. Unfortunately, it did not last 
long enough to be muled with back plate 637. 

A few serious collectors have attempted to collea the $5 SC 
KA block, not only by type but also each of the main groups of 



Page 1 84 


Paper Money Whole No. 1 92 


Table 5. First serial number printed during each year be- 
tween 1928 and 1952 for the $5 1934 series sil- 
ver certificate and 1928 series legal tender notes. 

Data from Bureau of Engraving and Printing (1952). 


Year 

First $5 LT 

First $5 SC 

1929 

AOOOOOOOIA 

— 

1930 

A69 168001 A 

— 

1931 

B19700001A 

— 

1932 

B80984001A 

— 

1933 

C36088001A 

— 

1934 

C98788001A 

AOOOOOOOIA 

1935 

D23208001A 

A67884001A 

1936 

D39780001A 

B10388001A 

1937 

D77892001A 

C20680001A 

1938 

E16604001A 

D39384001A 

1939 

E60848001A 

E92888001A 

1940 

F00868001A 

G50004001A 

1941 

F29488001A 

H90092001A 

1942 

F63448001A 

I41304001A 

1943 

F97048001A 

K53984001A 

1944 

G09048001A 

K59984001A 

1945 

G28068001A 

K65984001A 

1946 

G47568001A 

K84284001A 

1947 

G69648001A 

L53044001A 

1948 

H04628001A 

M89064001A 

1949 

H33368001A 

P11464001A 

1950 

H64028001A 

Q41460001A 

1951 

I01408001A 

R80660001A 

1952 

I36268001A 

S99304001A 


interspersed regular blue and yellow seal printings. Adding to 
the chase are numerous possibilities for changeover pairs be- 
tween the 1934A and B printings, 307 face plate varieties, and 
micro back 637. The quest is endless. 

FRN YELLOW-GREEN AND BLUE-GREEN SEALS 

There are two major seal color varieties on the Series of 1934 
FRNs. The earlier carry vivid yellow-green seals, whereas the 
latter have pale blue-green seals of which various shades exist. 
The change from yellow-green to blue-green took place in 1 938, 
probably in the late fall. The highest serial numbers found 
on the $5 Series of 1934 FRN yellow-green seals are listed in 
Table 7. 


Begun: Apr 

6, 1936 





Finished: Jul 

3, 1942 





Press runs: 





Reentered 

Jul 

9, 1942 

- Jul 

28, 

1942 

Jul 29, 1942 

Aug 

27, 1942 

- Sep 

10 , 

1942 


Sep 

15, 1942 

- Sep 

23, 

1942 

Sep 24, 1942 

Nov 

11, 1942 

- Dec 

1, 

1942 


Dec 

3, 1942 

- Dec 

4, 

1942 


Dec 

9, 1942 

- Dec 

23, 

1942 


May 

12, 1943 

- Jun 

3, 

1943 

Jun 4, 1943 

Canceled: Jun 

19, 1943 






Table 7. Highest serials on the $5 Federal Reserve Series 
of 1934 yellow-green seal notes. Data from Bureau 
of Engraving and Printing (1952). 


District 

Last Serial 

Boston 

A06 

000 

OOOA 

New York 

B14 

832 

OOOA 

Philadelphia 

C06 

720 

OOOA 

Cleveland 

DOS 

400 

OOOA 

Richmond 

E04 

992 

OOOA 

Atlanta 

F12 

000 

OOOA 

Chicago 

G09 

732 

OOOA 

St. Louis 

HIO 

368 

OOOA 

Minneapolis 

104 

920 

OOOA 

Kansas City 

J03 

000 

OOOA 

Dallas 

K08 

352 

OOOA 

San Francisco 

L12 

396 

OOOA 


Macro plates, both backs and faces, were being used prior to 
the Federal Reserve seal color change so both Series of 1934 
and 1934A yellow-green seal mules exist in the $10 and higher 
denominations. However, no $5 yellow-green seal mules of 
any type were made because no $5 FRNs were printed between 
May 19, 1937 and July 1 1, 1941. (See Table 2.) 

Series of 1934 $5 FRN yellow-green seals mules with macro 
backs were precluded because macro back plates first went to 
press on March 16, 1938, after yellow-green seal produaion 
had ceased. Similarly, no Series of 1934A yellow-green seals 
with micro backs were made because the first Series of 1934A 
face plates went to press on July 31, 1941, long after the yel- 
low-green seal era. 

STOCKPILED INCOMPLETE FRN SERIES OF 
1934 SHEETS 

The backs on the early Series of 1934 FRNs, and other classes 
of currency of similar vintage, were printed using a very dis- 
tinctive soft-appearing yellow-green ink. This ink was succeeded 
by a dark blue-green ink. The change in ink for all denomina- 
tions occurred between the beginning of the $1 SC Series of 
1 935A KB block and the end of the LB block, respeaively se- 
rial numbered between November 5, 1940 and February 25, 
1941. No $5 FRNs were being printed during this period, yet 
the old yellow-green $5 backs add significantly to this story. 

The fact is, S5 yellow-green micro backs are found mated 
with FRN Series of 1 934 faces that were serial numbered in 
1 94 1 and 1942. These notes comprise the 
very scarce non-mule blue-green seal and 
non-mule Hawaii Series of 1 934 printings. 
Their existence proves that they were be- 
ing produced from a stockpile of old $5 
sheets. 

Two questions arise. ( 1 ) Did the sheets 
carry only back impressions? (2) If so, did 
any end up being muled with Series of 
1934A FRN faces which began to be used 
in 1941 and 1942, or with SC and LT print- 
ings after regular micro back production 
ceased in 1940? 

The answer to the first question is no. 
The stockpiled sheets also bore Series of 
1934 FRN faces. The notes that have been 
observed from the stockpile were printed 


Table 6. Plate record for $5 silver certificate Series of 1934A late-finished 
macro face plate 307. Data from Bureau of Engraving and Printing 
(undated). 

Certified 
Aug 19, 1942 

Oct 19, 1942 



Paper Money Whole No. 192 


Page 185 











Figure 5. Certified proof of $5 micro back 629, the last old gauge $5 plate made. Old gauge means that the vertical separation between the 
subjects on this plate are slightly less than on those that followed, including 637. Also notice the difference in the placement of the guide lines in 
the margins as compared to those on 63 7. The plate approval date stamped on the lower margin is December 29, 1 933. (Smithsonian Institution 
photo 85-24.) 


from back plates in use between 1935 and 1937, and those 
plates were canceled by the end of 1937. More telling is the 
faa that some of the faces were printed from plates that were 
also canceled in 1936 and 1937. Obviously the stockpile con- 
sisted of sheets of Series of 1934 FRNs that were complete ex- 


cept for the seals and serial numbers. Such stocks existed for 
most, if not all, of the federal reserve distrias. 

Because the stockpiled sheets had faces, no faces could be 
added. Consequently no FRN Series of 1934A mules or 1941- 
2 vintage SC or LT mules could be made from them. Thus the 









Page 186 


Paper Money' Whole No. 1 92 




Figure 6. Certified proof of S5 micro back 637. The plate approval date stamped on the lower margin is November 10, 1944, when the plate 
was finally finished as a printing plate. It was begun on lanuary 24, 1935 as a new gauge electrolytic master basso to be used to make altos 
which, in turn, were used to make other production plates. (Smithsonian Institution photo 85-23.) 


answer to the second question is also no. The following dis- 
cussion will illuminate the issue. 

The preprinted 1935-7 vintage sheets were serial numbered 
in 1941 and 1942 when $5 FRN production resumed for the 


various districts. The result was Series of 1934 blue-green seal 
yellow-green back non-mules, and the Hawaii brown-seal yel- 
low-green back non-mules. Production of these oddities was 
then followed by newly printed sheets of Series of 1934 mules 









Paper Money Whole No. 1 92 


Page 187 


with blue-green macro backs. The latter were made in large 
quantities, the last being for Richmond in 1946. 

The emergency $5 Hawaii printings illustrate what hap- 
pened. The first Hawaii $5 printing began on lune 6, 1942, 
and a million notes were delivered to the U.S. Treasurer on 
lune 8, followed by another consecutive 1,600,000 notes on 
July 15 (Simek and Medcalf, 1991). The available stockpiled 
1935-7 vintage San Francisco sheets were sent directly to the 
serial numbering presses to kick off these production runs. The 
result was the scarce Series of 1934 non-mule yellow-green 
backs. The first $5 Hawaii bore serial L12396001A, a Series of 
1934 non-mule which was the first San Francisco $5 printed 
since 1937. 

However, the stockpile of Series of 1 934 San Francisco sheets 
was insufficient to meet the demand. Consequently, 28 Series 
of 1934 San Francisco face plates also were rushed to press on 
June 6, and their impressions were mated with contemporary 
blue-green macro backs. These muled Series of 1934 sheets 
followed the old stockpile sheets to the numbering presses to 
complete the deliveries made on June 8th. 

The stockpiled San Francisco sheets were depleted before 
the first million $5 Hawaii notes were printed, so none were 
available when blue-seal production resumed. Consequently, 
no San Francisco $5 Series of 1934 non-mule blue-green seal 
yellow-green backs were made. The first Series of 1934 San 
Francisco blue-green seal — serial L14996001A — was a mule 
for which all three printings were of 1942 vintage. 

The last sheets remaining in the stockpile appear to have 
been those for the Minneapolis district. These began to be 
numbered in the late Oaober 1942 time frame, and the stock- 
pile was finally depleted. 

Although the presence of the stockpile prolonged the use of 
micro backs into 1942, it clearly did not result in mule pro- 
duction. The sheets all had micro Series of 1934 FRN faces. 
Thus no FRN Series of 1934A blue-green seal yellow-green back 
mules were printed, even though 1934A New York faces were 
on the presses as early as July 31, 1941. This is unfortunate 
because such a 1934A mule would have had a blue-green seal 
and a yellow-green back. It would have been a distina mule 
type in itself. 

Obviously, the stockpile could not provide feed stock for 
the SC or LT printings because the sheets already had Series of 
1934 FRN faces. Consequently, combinations such as $5 SC 
Series of 1 934A lA and JA block mules were not made. 

MICRO BACK 637 

Probably the most interesting $5 back plate ever made was 
micro plate 637. It was begun on January 24, 1935, as a new 
gauge electrolytic master basso (Frey, 1986). The term "new 
gauge" refers to plates where the vertical separation between 
the subjects was increased slightly in order to produce wider 
margins to improve the registration of the faces on the backs. 
(See Figures 5 and 6.) The first new gauge $5 back was plate 
630, which was finished on January 31, 1935. "Electrolytic 
basso" denotes a plate made by electrolytic deposition of nickel 
on an alto (Bureau of Engraving and Printing, 1962). An "alto" 
is a reverse image of a master plate, also made by electro-depo- 
sition, whereon the intaglio image from the master is repro- 
duced in relief "Master" basso means that 637 was used to 
produce other altos by elearo-deposition, which in turn were 
used to make regular elearo-deposition production plates. 

Plate 637 was begun on January 24, 1935, during the micro 
era. It was completed as a regular printing plate on November 


10, 1944, long after its service as a master basso. Its conver- 
sion into a printing plate undoubtedly was an economy mea- 
sure. It bore micro plate numbers but when they were added is 
unknown. No other $5 micro backs were in use then, the last 
having left the presses in 1940. 

Micro back 637 was placed in service in June 1945 and be- 
gan to produce strange and wonderful mules. As shown in 
Table 8, this remarkable plate saw almost continuous service 
from lune 23, 1945 until June 15, 1949. Impressions from it 
found themselves mated with a huge assortment of faces in 
the silver certificate, legal tender and Federal Reserve series. 
An incredibly long list of possible and known matings appears 
in Table 9. 

Micro back 637 produced $5 FRN mules in the 1934A, 
1934B and 1934C series. All are rare, as shown in Table 10. 
The $5 Series of 1934A FRN mule ranks as the rarest mule 
type in any series or denomination. Only four have been dis- 
covered to date — two from New York in the BB block, one 
from Philadelphia, and one star from San Francisco. 

MICRO BACK 629 

Micro back 629 was completed normally on December 29, 
1933. It happened to be the last old gauge $5 back plate — one 
with the more closely spaced subjeas — so it was set aside and 
saved in unused condition (Frey, 1986). It sat around for 14 
years. Someone resurrected it in 1947, probably as another 
economy measure. It was sent to press on November 1 7th<ind 
its first and only press hitch lasted just two and a half months. 
Next it was reentered to prolong its life; however, it was never 
recertified for use. The narrow spacing between the subjeas 
caused centering problems which proved to be a nuisance when 
mated with the new gauge faces then in use. It was withdrawn 
from service and canceled. Notice from Table 8 that its short 
stint in service coincided with one brief period when 637 was 
not in use. 

Mules from 629 are rare, owing to its short service. Impres- 
sions from it can be found mated with $5 Series of 1928E 
legal tender, 1934C silver certificate, and very rarely 1934C 
Federal Reserve faces. Three 629 1934C FRNs are now known. 
(See Table 10.) Remarkably, the two from New York are within 
100 serial numbers of each other, despite the faa that they 
parted company 50 years ago, and circulated widely until each 
was worn to a grade of very good. 

NOTABLE RECENT 637 MULE DISCOVERIES 

The most significant 637 micro back mule to turn up recently 
is a $5 SC Series of 1934A star note, serial ★! 17475 71 A, face 
plate 11765, in vf+ that was discovered by David Klein, and 
later sold to David Koble at the February 1996 Chicago show. 
(See Figure 7.) The serial number on this previously unreported 
637 block is currently the highest known on a 1934A star, and 
is well within the range for reported 1934B star notes. Face 
1765 was the last 1934A $5 SC made and was used from Sep- 
tember 28, 1945 to May 22, 1946. It was the second to last 
1934A plate to leave the presses; plate 1734 lasting until June 
21, 1946. This interesting star note was printed in 1946, after 
1934B produaion had commenced. 

Logan Talks located $5 LT Series of 1928C L485/637 
G45604674A in f-vf in the fall of 1994 (Figure 8). This mule, 
printed in 1945, is rare and appears to be an underrated variety. 

I found a new 637 $5 FRN Series of 1934C block at a small 
coin show in Denver in April 1 996, specifically C9579 1 2 1 9A 


Page 1 88 


Paper Money Whole No. 1 92 


Tabic 8. Plate records for $5 micro back plates 629 and 637. Data from Bureau of Engraving and 
Printing (undated). 

Plate 629 


Begun; 

Dec 

6, 1933 






Finished: 

Dec 29, 1933 






Press Run: 





Reentered® 

Certified 


Nov 

17, 1947 - 

Feb 

2, 1948 

Feb 3, 1948 


— 

Canceled: 

Feb 

17, 1948 






637 








Begun: 

Ian 

24, 1935 






Finished: 

Nov 

10, 1944 






Press Runs: 





Reentered 

Certified 


Jun 

23, 1945 - 

Sep 

24, 1945 

Sep 25, 1945 

Nov 

28, 1945 


Nov 

30, 1945 - 

Jan 

23, 1946 

— 


— 


Feb 

8, 1946 - 

Mar 

7, 1946 

— 


— 


Mar 

12, 1946 - 

Jun 

11, 1946 

— 


— 


Jun 

17, 1946 - 

Jul 

22, 1946 

Jul 23, 1946 

Aug 

19, 1946 


Aug 

23, 1946 - 

Oct 

17, 1946 

— 


— 


Oct 

21, 1946 - 

Nov 

1, 1946 

Nov 4, 1946 

Nov 

20, 1946 


Nov 

26, 1946 - 

Feb 

13, 1947 

Feb 14, 1947 

Feb 

27, 1947 


Feb 

28, 1947 - 

Jul 

17, 1947 

Jul 18, 1947 

Aug 

4, 1947 


Aug 

19, 1947 - 

Nov 

12, 1947 

— 


— 


Feb 

13, 1948 - 

Sep 

24, 1948 

Sep 27, 1948 

Oa 

7, 1948 


Oct 

19, 1949 - 

Mar 

8, 1949 

Mar 9, 1949 

Apr 

5, 1949 


Apr 

8, 1949 - 

Jun 

15, 1949 

— 


— 

Canceled: 

Jun 

16, 1949 







a. Reentered means the design is repressed into the plate from a roll to sharpen details that show wear. 



Figure 7. Only reported $5 silver certificate Series of 1 934A star note 
mule with a 637 micro back. The serial is the highest reported for any Series 
of 1934 A star note and uvis printed in 1946. (Photo courtesy of David 
Koble.) 



Figure 9. A newly discovered serial block letter combination, CA, on a $5 
Federal Reserve Series of I934C micro back 637 mule. This note was printed 
in 1 949, late in the life of the plate. 


A138/637 which grades almost uncirculated (Figure 9). One 
other Philadelphia 1934C mule is known, it being from the 
CB block with serial C00036000B. Both were serial numbered 
in 1949, so they were among the last produced from this pro- 
digious back plate before it was canceled on June 16th. 

Obviously rare mules are still out there waiting to be dis- 
covered, provided you are willing to turn over otherwise com- 
mon notes and look at the back plate numbers! 


AN AS YET UNDISCOVERED $5 637 FRN VARIETY 

Figure 8. Rare $5 legal tender Series of 1928C 637 micro back mule One variety with back plate 637 that has never been reported 
printed in 1945. (Photo courtesy of Logan Talks.) is a $5 FRN Series of 1934 non-mule. As shown in Figure 3, 


G45B04674i 




C45604674 A ^ 

i A w.wiiiMJniviM- 


u 






Paper Money Whole No. 1 92 


Page 189 


Table 9. Possible and reported $5 varieties from micro back plates 629 and 637. 
Underlined blocks have been observed. 


Plate 

629 


637 


Class 

Series 

Dist. 

Type 

Serial Blocks 

SC 

1934C 


mule 

MA. 

NA, 

•A 

LT 

1928E 


mule 

HA. 

•A 


FRN 

1934C 

A 

mule 

AA, 

A* 




B 

mule 

B£, 

B’ 




C 

mule 

CA, 

C* 




D 

mule 

DA, 

D* 




E 

mule 

EA, 

E* 




F 

mule 

FA, 

F* 




G 

mule 

GB, 

G* 




H 

mule 

HA, 

H* 




I 

mule 

lA, 

I* 




1 

mule 

JA, 

!• 




K 

mule 

KA, 

K* 




L 

mule 

LA, 

L* 


SC 

1934A 


mule 

KA, 

LA. 

lA 


1934B 


mule 

KA, 

LA 

lA 


1934C 


mule 

lA 

MA, 

NA, 

LT 

1928C 


mule 

QA, 

•A 



1928D 


mule 

QA, 

•A 



1928E 


mule 

GA. 

HA, 

•A 

FRN 

1934 

A 

non-mule 

AA, 

A* 




B 

non-mule 

BB, 

B* 




C 

non-mule 

CA, 

C* 




D 

non-mule 

DA, 

D* 




E 

non-mule 

EA, 

E* 




F 

non-mule 

FA, 

F* 




H 

non-mule 

HA, 

H* 




I 

non-mule 

lA, 

I* 


FRN 

1934A 

A 

mule 

AA, 

A* 




B 

mule 

BB, 

B* 




C 

mule 

CA, 

C* 




D 

mule 

DA, 

D* 




E 

mule 

EA, 

E* 




F 

mule 

FA, 

F* 




G 

mule 

GA, 

GB, 

G* 



H 

mule 

HA, 

H* 




L 

mule 

lA, 

LB, 

LI 

FRN 

1934B 

A 

mule 

AA, 

A* 




B 

mule 

m 

B* 




B212 

mule 

BB, 

B* 




C 

mule 

CA, 

C* 




D 

mule 

DA, 

D* 




E 

mule 

EA, 

E* 




F 

mule 

FA, 

F* 




G 

mule 

Cfi, 

G* 




H 

mule 

HA. 

H* 




I 

mule 

lA, 

1* 




J 

mule 

lA, 

I* 




L 

mule 

LA, 

LE, 

Ll 

FRN 

1934C 

A 

mule 

AA, 

A* 




B 

mule 

BB, 

EC 

B* 



C 

mule 

CA 

CE, 

C* 



D 

mule 

DA. 

D* 




E 

mule 

EA, 

E* 




F 

mule 

FA, 

F* 




G 

mule 

Cl, 

G* 




H 

mule 

HA. 

H* 




1 

mule 

lA 

!• 




I 

mule 

lA 

I* 




K 

mule 

KA, 

K* 




L 

mule 

LB, 

L* 



this variety is possible from 1945-6 
printings for several districts. If 
found, they will have blue-green seals 
and blue-green backs. They will rep- 
resent a distina type because of the 
blue-green backs. In contrast, the 
blue-green seal Series of 1934 non- 
mules of 1941-2 vintage made from 
the stockpiled sheets have yellow- 
green backs. 

A REMOTELY POSSIBLE $5 
FRN MULE 

New York $5 FRN Series of 1934B 
face plate 212 bears a very distinc- 
tive intermediate size plate number 
that is midway in size between a mi- 
cro and macro. (See Figure 1.) This 
plate was used between November 
7, 1945 and November 14, 1946 
(Table 1 1 ), a period that was entirely 
overlapped by the usage of $5 micro 
back plate 637. Thus it is possible 
that a 212/637 could exist. None 
have been reported. Such a find 
would marry two unusual varieties. 

NEVER ENDING QUEST 

1 have written a dozen articles about 
mules since 1967. I thought 1 had 
written the last word on the topic 
after completing the first couple of 
those articles. However, just about 
every time 1 went to Washington, 1 
seemed to stumble across new data 
in one or another of the archives, or 
someone showed me another new 
variety at some coin show, either of 
which made earlier conclusions ob- 
solete. The latter is a face-saving, tact- 
ful way of saying wrong. New 
discoveries still continue to provide 
great surprises and new insights. 

1 have made every attempt here to 
provide you with the latest, most ac- 
curate information on the $5 mules. 
If you read a statement or conclusion 
in one of my earlier articles that is at 
variance with what is presented here, 
or you find a discrepancy or a differ- 
ent date than appears here, rely on 
this article. That is, trust this mate- 
rial until we get to digest some new 
discovery or we find some obscure 
document in a government archive 
that will yield yet another wrinkle! 

629 AND 637 CENSUS 

1 am working with Logan Talks, 4 1 08 
Elmhurst Rd., Toledo, OH 43613 
(4 1 9-474-4549) to assemble a census 



Page 1 90 


Paper Money Whole No. 192 


Table 10. Reported $5 Federal Reserve Series of 1934A, B 


and C mules. 

Serial 

Plates 


Grade 

Series of 1934A 

B63063567B 

C160 

637 

AU 

B69708310B 

D159 

637 

VF 

C69052070A 

H80 

637 

G 

L01212949* 

A90 

637 

XF 

Series of 1934B 

A54375901A 

A96 

637 

VF 

B94584878B 

B211 

637 

F 

B94911759B 

7 

637 

7 

D60641001A 

C49 

637 

F 

G21370363B 

G167 

637 

GU 

H54567383A 

K95 

637 

CU 

H54567384A 

L95 

637 

GU 

118105713A 

7 

637 

F 

L01597562B 

B166 

637 

VG 

L02967122B 

H149 

637 

CU 

L01359866* 

7 

637 

CU 

L01359867* 

7 

637 

CU 

Series of 1934C 

A54870831A 

G127 

637 

F 

B22594851C 

1257 

629 

VG 

B22594947C 

1255 

629 

VG 

B42196541C 

E263 

637 

VG 

B45409229C 

E257 

637 

AU 

C95791219A 

A138 

637 

AU 

C00036000B 

F135 

637 

CU 

D76605379A 

G71 

637 

VF-k 

D77184218A 

B71 

637 

AU 

G31475153B 

E216 

637 

VG 

G45417717B 

1219 

629 

VG 

G61015789B 

7 

637 

VG 

G64633087B 

229 

637 

7 

H70831511A 

7 

7 

7 

I20058699A 

141 

637 

F 

J31266251A 

7 

637 

VG 


serial number, face plate letter and number, back plate number, 
and grade. 

ACKNOWLEDGMENTS 

James T. Lemon provided a copy of a letter explaining the spe- 
cial significances of $5 back plates 629 and 637 that he re- 
ceived from Bureau of Engraving and Printing employee Paul 
Frey. Lemon also arranged for David Koble to send microfilmed 
plate history records that he had obtained from the U. S. Na- 
tional Archives which he subsequently deposited with Dave. 
Robert Azpiazu and Jim Hodgson provided serial and plate 
number data for many of the $5 Series of 1934 FRN yellow- 
green back, blue-green seal notes used in this analysis. David 
Koble and Logan Talks supplied photos. 

SOURCES OF DATA 

Bureau of Engraving and Printing. (1952). First serial numbers printed 
during each year on United States small-size notes from 1928 to 
1952: Typed list prepared by O & M Secretary, Bureau of Engrav- 
ing and Printing, Washington, DC. 

Bureau of Engraving and Printing. (1962). History of the Bureau of 
Engraving and Printing, 1862-1962: LI. S. Government Printing 
Office, 199 p. 

Bureau of Engraving and Printing, undated, ledgers and historical 
records of stock in miscellaneous vault (currency printing plate 
history ledgers showing series, plate numbers, dates begun, dates 
finished, dates of use, dates reentered, and dates canceled): U. S. 
National Archives, Washington, DC. 

Frey, Paul R., executive assistant. Bureau of Engraving and Printing, 
Washington, DC, October 23, 1986, letter to lames T. Lemon ex- 
plaining the special significances of $5 micro back plates 629 and 
637. 

Huntoon, Peter. (1990). $5 federal reserve mules: Paper Money, v. 29, 
p. 69-76. 

O'Donnell, Chuck. (1977). The standard handbook of modem United 
States paper money, 6th edition: Harry |. Forman, Inc. (Philadel- 
phia, PA), 342 p. 

Shafer, Neil. (1967). A guide book of modem United States currency. 
Whitman Publishing Company (Racine, Wl), 160 p. 


Table 11. Plate record for New York Federal Reserve $5 Series of 1934B intermediate face plate 
212. Data from Bureau of Engraving and Printing (undated). 


Begun: Oct 

Finished: Nov 

Press Runs: 

Nov 

9, 1945 

7, 1945 

7, 1945 - 

Ian 

22, 1946 

Reentered 

Certified 

Feb 

26, 1946 - 

Mar 

6, 1946 

— 

— 

Mar 

13, 1946 - 

Mar 

26, 1946 

— 

— 

Apr 

23, 1946 - 

May 

10, 1946 

May 13, 1946 

Jun 6, 1946 

Oa 

25, 1946 - 

Oa 

31, 1946 

— 

— 

Nov 

4, 1946 - 

Nov 

14, 1946 

— 

— 


Canceled: Sep 8, 1948 


of the known $5 back plate 629 and 637 notes. Please report 
your specimens to him, or to me, Peter Huntoon, P. O. Box 
3681, Laramie, WY 82071 (307-742-2217). Even the most com- 
mon note holds research significance. We need the type, series. 


Simek, lames A., and Donald Medcalf (1991). The overprinted notes of 
World War II: The Numismatist, v. 104, p. 1886-1902. 

Ton Jr., Graeme M. (1987). The "king alpha' $5 silver certificate: Paper 
Money, v. 26, p. 20-23. 



Paper Money Whole No. 192 


Page 191 


Z he Cast Cond 

of 

Z he Cost Cause 

by lOHN MARTIN DAVIS, )R. 


This is the critical missing copy from No. 190, page 

123. An apology is extended again to Mr. Davis. 

The final, and in some ways most intriguing depository re- 
ceipt, is a hand-altered-form adapted to the November 28, 1 864 
Aa for use by the "Assistant Treasury Office, Charleston." Of 
particular interest is the higher certificate number (152), indi- 
cating the aaual number of exchanges by the date written, 
February 3, 1865. The second revelation is the bearer and quan- 
tity of treasury notes exchanged — the Bank of Charleston, South 
Carolina for $1 12,900.00. This was a substantial exchange by 
a major bank. Finally, the Assistant Treasurer of Charleston, 
South Carolina in manuscript on a separate envelope accom- 
panying the original depository receipt wrote: 

W.G. Leitch — Assist Tr Reed 
for $1 12,900—7 30/100 notes 
for which 6% Bonds are to be 
issued under Act Nov. 28 1864 

The official Treasury Register, according to Dr. Douglas B. 
Ball, recorded about $320,000 worth of November 28, 1864 
bonds. Dr. Ball concluded that no actual bonds under the 
November 28, 1864 Act were in fact ordered, printed or ex- 
ecuted, although depository receipts were issued. 

Given the customary formalities observed by treasury 
officials, it seems unlikely that depository offices would issue 
receipts for a bond exchange if those depository officials did 
not have in their possession detailed guidance from the Trea- 
sury Department for complying with the Act. It is suggested 
the Treasury Department probably issued printed instructions 
and may have considered both the bond design and possible 
printer. Bonds of several aas continued to be printed at Co- 
lumbia, South Carolina until occupied by union forces on Feb- 
ruary 17, 1865. The Columbia Treasury Note Bureau ceased to 
operate after that date. Perhaps an order, design or other in- 
struaions prior to the fall of Columbia exist describing this 
elusive bond. Given Dr. Ball's perusal of the official correspon- 
dence, existence of such material seems at best highly prob- 
lematic. 

One possibility that may account for the lack of evidence of 
the November 28, 1 864 Act bonds would be substitution with 
a prior bond issue. There was, after all, precedent for bond 
issue substitutions. The 4% coupon bonds of the March 23, 
1863 Act were again issued with much higher numbers as a 
means of funding state-held notes. The States were allowed to 
substitute coupon bonds for the Criswell Number (Cr.) 141 
series registered bonds. Obvious candidates for the November 
28, 1864 substitution are the Cr. 142- 146 series bonds, with 


30 year terms bearing 6% interest as provided by Sections 6, 7, 
and 8 of the Act of February 17, 1864. 

The 30-year bond and coupons conceivably could have been 
modified and reprinted in Columbia by changing the due date 
ofluly 1, 1894 to January 1, 1895. Another possibility maybe 
hand-alterations of the February 17, 1864 bond to provisions 
of the November 28, 1864 Aa. The interest payment dates for 
six of the coupons (warrants) annexed to the bond would also 
require modification. Ink and pen alterations are not unique. 
Earlier coupon bonds were regularly altered, usually in red ink, 
to correct the interest accrual date and lower the coupon inter- 
est warrant. The later series of the 6% interest, 30-year coupon 
bonds are surely worthy of close examination. Some inventive 
registrar or pragmatic depository may have assumed greater 
creativity as the war was winding down and necessity became 
the mother of invention. ■ 


Buying & Selling 
foreign Banknotes 

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Page 192 


Paper Mot\ey Whole No. 1 92 



little background about Denton is in order, to relate 
how the community was named. Denton County, 
Texas was created in 1846. It was named in honor of 
Captain lames B. Denton, who was killed in a skirmish with 
Indians near what is today the city of Arlington. Captain 
Denton’s commanding officer was General Tarrant. The day 
after he was killed, Denton was buried near present-day lustin 
in Denton County; in 1850, he was reinterred at the Chisum 
Ranch, northwest of Bolivar. On November 28, 1901, his re- 
mains were again moved to the lawn of the Denton County 
Courthouse. 

A small log courthouse was built in Denton in 1851. A square 
was laid out around the counhouse, and lots were offered for 
sale. Each lot was 50 feel wide, and there were six lots on each 
side of the courthouse square. The lots sold for $25 to $30 
each. However, the last lot was sold for $65; this was the south 
lot on the west side of the square. It was purchased by lames 
M. Smoot, who desired a lot with a front facing the East. Smoot 
soon erected a rather large store building, and pul in a large 
stock of general merchandise. This was in 1854, and Smoot's 
was the largest store in Denton. 

Roads were poor everywhere. The difficulties of transporta- 
tion made imported items dear, and in some cases the costs 
were prohibitive. There was little real money in the area, and 
home-produced articles brought very low prices on the local 
market. Land was cheap, with thousands of acres for sale. 

Shreveport, Louisiana, lefferson, Texas, and Fort Smith, Ar- 
kansas were the market places at this time. Goods were hauled 
by teams of oxen from these cities, and only when green grass 
could be had for the oxen at night. If a merchant ran out of an 
article of merchandise, he remained out until the next year, 
when the oxen could make the trip. 

On luly 8, 1860 a series of fires broke out in North Texas 
that led credence to rumors that they were started by The Union 
League or escaped slaves. The Union League was a band of 
Northern sympathizers upon which much suspicion rested. 
The suddenness and widespread similarity of cases seemed too 
strong for denial. The first fire was in Dallas, and it caused 
about $400,000 in damages. Other fires on that Sunday broke 
out in Denton, Pilot Point, Ladonia, Honey Grove, Milford, 
Waxahachie, Jefferson and Austin. 

The fire in Denton started in the counting room of James M. 
Smoot’s store, located at the corner of Elm and Hickory Streets. 
A Southwesterly wind spread the fire to other stores on the 
West side of the square. In the store operated by Baines and 



Mounts, there were 25 kegs of powder; these exploded, and 
sent burning pieces of lumber, chains and castings in every 
direction. This caused other buildings around the square to 
catch fire. Ever>’ building on the west side was in ashes, except 
the one at the north lot on the west side — Blount and Scrugg’s 
Grocery Store. Everyone in town fought the fire. The estimated 
losses were over $80,000. Smoot lost everything he had, and 
said that his losses alone were over $50,000. 

At a public meeting in Denton on July 27, 1860 the Central 
Committee of Safety For The County was organized. This group 
laid plans for the deieoion, arrest, and eradication of aboli- 
tion agents, horse thieves, and suspicious chararters. 

Later, it was suggested that the fires were started by "prairie 
matches." These had only recently appeared, and might have 
been set off by the hot sun of that Sunday afternoon. The 
match stems were made out of compressed paper, and the 
match head was made by dipping it into a sulfur preparation. 
However, most of the people still felt strongly that The Union 
League or escaped slaves started the fires. 

Mr. Smoot rebuilt his store after the terrible fire. He appar- 
ently began an association with a drug store in Fort Smith, 
Arkansas— M. Mayers & Brother — because M. Mayers & Brother 
issued scrip notes that were redeemable not only at their store, 
but also at the Smoot store in Denton, as well as other stores 
in different locations in Arkansas and the Cherokee Nation 
(now Oklahoma). 



aM TMC 

ONf DOLLArt 


|3n £ntrcl)>ii liisc. .rrtnt Banlt Notes.' 


A $) nole from M. Mayer & Bro., Fort Smith, Arkansas, which could be 
redeemed at the store of I.M. Smoot, Denton, Texas. 


These scrip notes bear various dates in 1861 and 1862, and 
denominations of 25 cents, 50 cents, $1 and $2 have been 
recorded. The notes are signed by two Mayers brothers. They 
are printed on veiy thin paper, and all the known notes are 
well-circulated. 

The store names where the notes could be redeemed are in- 
cluded in very liny print; on the upper inside border of the $ 1 
note illustrated is the following statement: "Redeemed by 
Stirman & Dickson, at Fayetteville, White & Haney, Van Buren, 
F.H. Nash, Ft. Gibson"; at the bottom lower border is "Re- 
deemed by J.M. Smoot, Denton, Texas." 

Another surviving note is a slightly different variety, where 
the "Redeemed by . . ." statement, at the top of the $1 note 
described above, appears at the bottom, while the upper border 
reads, "Redeemed by Alexander & Allen, Sherman, J.M. Smoot, 
Denton, Texas.” 

The illustrated note is brown in color, and like many other 
surviving specimens, has a counierstamp in the center read- 
ing, "M. Mayers & Bro. — Druggists — Fort Smith, Ark." 

James M. Smoot died in 1862. He was buried in the 1.0.0. F. 
Cemetery. In 1859 he had donated a block of land to be in- 

( Continued on page 195) 




Paper Money Wfwle No. 1 92 


Page 193 


iriNANCiiN'D The AltC/HCidiilie IlNiDHJSiricy 


by PIERRE BONNEALI 


HE appearance of stock and bond certificates in the 
automobile industry dates back to the turn of the cen- 
tury. They were not frequently used at first since the 
early requirements to build a car were quite affordable. No 
heavy investment in plant and equipment was needed, as pro- 
duaion was almost exclusively an assembly operation, using 
pans and components bought from outside firms. Moreover, 
many manufacturers financed themselves by buying from sup- 
pliers on credit and selling to dealers for cash. 

However, the best prospeas for survival were generally those 
companies that were already established, or those individuals 
who could find investors. In other words, substantial capital 
soon became essential! To illustrate this point, 1 chose five 
important individuals who, in their own way, shaped the world 
of motorized vehicles as we know it today, and recount how 
they "financed’ their entry in the American automobile in- 
dustry. From Ransom E. Olds and Henry Ford, two impover- 
ished engineers with a dream, to lames W. Packard and the 
Studebaker brothers, both already established, and finally the 
flamboyant Preston T. Tucker, who used marketing and the 
stock market before his prototype was even completed! 



RANSOM ELI OLDS 


Olds Motor Works Company 
REO Motor Car Company 



A 1930 share certificate featuring the famous winged ‘'REO’ logo flanked 
by two young maidens. 


Originally involved with stationary gas engines. Ransom E. 
Olds built his first experimental three-wheeled steam car in 
1891. He went on to form the Olds Motor Works Company five 
years later, and introduced a single-cylinder gasoline-engined 
vehicle of dogoart-type in 1897. Hindered by lack of capital 
for nearly two years. Olds finally found a backer in a copper 
and lumber magnate named Samuel L. Smith. The latter in- 
vested $199,600 into the venture in return for 95 percent of 
its stock, while Olds contributed the rest of the $200,000 of 

T^e Serif opifiiy Corner 


paid-up capital. Ready for a new beginning, the company 
moved its operations from Lansing to Detroit in 1899. 

Bad luck seemed to have struck again when the new factory 
burned down in March 1901. A little buggy with a one cylin- 
der engine and a curved dash, which Olds had designed as a 
possible low priced car, was all that was left! Having no other 
alternative, the company concentrated its effort on the curved- 
dash buggy and ordered engines from Leland & Faulconer, then 
a machine tool manufaaurer also making motor boat engines 
(Leland later created the "Cadillac" cars). As for transmissions, 
they came from a small machine shop owned by brothers lohn 
and Horace Dodge! 

Needless to say, the result was spectacular. The little curved- 
dash runabout soon became known as the "Merry 
Oldsmobile," considered by many as the world's first mass- 
production automobile. The car itself was very successful until 
1904, at which point Smith decided to drop the buggy in fa- 
vor of heavy touring cars. Olds disagreed and left the com- 
pany, only to be put right back in business by a group of Lansing 
associates. 

The new venture, named the REO Motor Car Company (for 
R.E. Olds), kept on producing inexpensive 8hp single-cylin- 
der runabouts until 1909, and a more expensive companion 
16hp twin was also offered. The company itself remained a 
steady seller for more than twenty-five years. 

HENRY FORD 

Ford Motor Co. 



A 1974 share certificate depicting young Henry Ford behind his original 
“Quadricycle, " flanked by a network of highways linking country to city. 


Since his boyhood, Henry Ford definitely had a flair for 
machinery. He spent close to twenty years as a mechanic, 
machinist and engineer before he built his first car, the 
"Quadricycle," in 1896. Underfinanced, he had to wait three 
years before finding support from a group of Detroit business- 
men headed by a lumber dealer named William F. Murphy. 

The new venture, originally organized as the Detroit Auto- 
mobile Company and later as the Henry Ford Company, was a 
disaster. By 1902 Ford had been replaced by Henry M. Leland 






Page 194 


Paper Mone}’ Whole No. 1 92 


(of Leland & Faulconer), and the company was reorganized as 
the Cadillac Automobile Company (. . . so Ford and Cadillac have 
a common ancestry!). 

Ford himself was anxious to get back to work, and founded 
the Ford Motor Company with another group of partners in 1 903. 
Alexander Y. Malcomson, a Detroit coal dealer, supplied the 
initial $28,000, while the Dodge brothers became stockhold- 
ers in return for providing chassis, engines and transmissions 
for the first Ford cars. By 1905, following a quarrel with 
Malcomson, Ford emerged in complete control of his com- 
pany. Three years later, the "Model T" was introduced. 

JAMES WARD PACKARD 

Packard Motor Car Company 


ing Company in 1902. The well-funded venture produced its 
first motorcar two years later. 




A 1953 share certificate with vignette Construction and Industry. 


A 1932 stock certificate featuring the original Studebaker blacksmith shop. 


The Studebaker brothers never claimed to be engineers, but 
they were good marketers! Recognizing their limited techni- 
cal expertise, they initially bought most of their engines and 
chassis from the Garford Manufacturing Company of Elryria, 
Ohio. The bodies were then added in South Bend, and the cars 
were marketed through their established network of wagon 
dealers. 

The Studebaker Corporation finally bought out its suppliers 
in 1910 and absorbed the original wagon manufacturer in 
1911. By then, its automobile activities were all consolidated 
under one name, with faaories in South Bend and Detroit. 


James W. Packard graduated from Lehigh University in 1884 
and started a successful light bulb manufacturing venture, the 
Packard Elearic Company, in 1890. He subsequently got in- 
terested in automotive engineering in 1898, following the 
purchase of a defective Winton No. 12 car. By 1900 he began 
producing his own cars in Warren, Ohio, using a subsidiary 
called the Ohio Automobile Company. 

The company's rise to prominence started the following year, 
shortly after the 1901 New York automobile show. Greatly 
impressed by Packard's car, a group of Detroit capitalists 
headed by Henry B. joy, son of railroad magnate lames F. Joy, 
acquired control of the Packard Elearic Company. The name 
was changed to Packard Motor Car Company, and production 
was moved to Detroit in 1903. That same year, a big four 
cylinder engine of over 730ci displacement was designed on 
European lines by Charles Schmidt, which led to the famous 
Model L, the first car to bear the classic Packard radiator. 

HENRY & CLEM S'TUDEBAKER 

Studebaker Corporation 

Brothers Henry and Clem Studebaker first opened a black- 
smith's and wagon building shop in South Bend, Indiana, in 
1852. As the largest manufaaurer of horse-drawn vehicles in 
the world, their company received lucrative government con- 
traas during both the Civil War and World War 1. All in all, 
the firm produced more than 750,000 wagons over a 67 years 
period! 

Even though regular wagon production was carried on until 
1919, experiments with elearic 'horseless carriages" began as 
early as 1898. The Studebaker Corporation was finally chartered 
as an offspring of the existing Studebaker Brothers Manufactur- 


PRESTON T. TUCKER 

Tucker Corporation 



A 1947 Class A common stock "temporar)' certificate" . . . the engraved 
certificates were never printed! 

By the end of the Second World War surveys revealed that the 
# 1 priority for the American consumer was to buy a new auto- 
mobile . . . and engineer Preston T. Tucker was about to create 
just the car they wanted! He envisioned a radical new design 
featuring a central steering wheel, disk brakes, padded dash, 
front passenger crash compartment, pop-out windshield, three 
headlights, and mobile front fenders synchronized with the 
wheels. His new "Torpedo" was also to include a flat opposed 
589ci engine and a rear wheel double torque direa drive sys- 
tem. 

Tucker chartered his Tucker Corporation in 1946 and worked 
with former Auburn-Cord-Duesenberg stylist AlexTremulis to 
make his dream a reality. He soon published an anicle show- 




Paper Mone)’ Whole No. 1 92 


Page 195 


ing the low, long and luxurious styling of the Torpedo along 
with its safety and performance features. The new car was an 
instant success, with more than 3,000 orders placed by the 
end of 1948. 

Unlike earlier automobile manufacturers, the flamboyant 
Tucker marketed his product well before he could deliver . . . 
and he had no operating funds! Moreover, since his idea di- 
realy challenged the ultra conservative produas of the cur- 
rent automobile industry, bankers were reluctant to support 
his Chicago based venture. In the end. Tucker was forced to 
finance himself by selling capital stock. 

Robert Pierce was already one of Preston Tucker's larger 
shareholders with ownership of 40,000 'Tucker B Stock," and 
arrangements were made with certain of his associates to allo- 
cate stock in lieu of salaries and reimbursements for expendi- 
tures. However, most of the financing came from the Tucker 
A Stock," which was offered to the general public. 

Unfortunately, the production models had major problems 
and many of the desired features had to be abandoned. The 
initial Tucker Torpedo was never really produced, becoming 
instead the Tucker '48 sedan. Tucker, Pierce and four other as- 
sociates were soon charged with fraud, but they were eventu- 
ally acquitted. The Tucker Corporation itself was finally 
dissolved in 1950, having only produced 51 automobiles. 

Although the total number of American car manufacturers 
might never be accurately determined, it is believed that more 
than three thousand makes of cars and trucks have been built 
by some fifteen hundred identifiable companies since 1897. 
As we celebrate the automobile industry's first century, it is 
interesting to note how America has always kept its "horseless 
carriages" history alive through colleaibles. However, financ- 
ing instruments such as stocks and bonds, the very fuel of the 
whole industry, have only been introduced to collectors a few 
years ago. 

Pierre Bonneau is the Chief Executive Officer of Stock Search Interna- 
tional, Inc. and founder of the 'Old Certificates Collectors Club.” 

r 

TEXAS (Continued from page 192) 

eluded in the cemetery. He was buried in the exaa center of 
this tract. After Smoot's death, R.M. Collins operated his store. 

REFERENCES 

Bieciuk, H. and H.G. "Bill" Corbin. (1961). Texas Confederate County 
Notes and Private Scrip. 

Bates, E.F. (1976), History and Reminiscences of Denton Count}'. Denton: 
Terrill Wheeler. 

Bridges, C.A. (1978). History of Denton, Texas. Waco:Texian Press. 
Medlar, B. (1968). Texas Obsolete Notes and Scrip. Society of Paper 
Money Collectors, Inc. 

Rothen, M. Sr. (1985). Arkansas Obsolete Notes and Scrip. Society of 
Paper Money Colleaors, Inc. (Note: Information about M. Mayer 
and Bro. and their scrip attributed to Eric Newman.) 

Contest Announced 

The California National Currency Collectors (CNCC) will 
award an uncirculated California bank note to the person who 
submits the best CNCC logo. Submit designs to: CNCC Logo 
Contest, P.O. Box 361, Los Alamitos, CA 90720. Inquiries may 
also be sent to uspaper@compuserve.com. 


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Page 1 96 


Paper Mone}' Whole No. 1 92 


The 



Starts Here 

A Primer for Collectors 


by GENE HESSLER 


LTIIOLIGH portraits of famous women are being 
placed on paper money from countries all over the 

world, the United States remains among the minority 

of nations who have not been so forthcoming. The criterion 
for representation on United States paper money, with very 
few exceptions, has been some affiliation with government or 
the military. Since women do not share that long history with 
men, it will probably be a long time, if ever, until we see the 
likeness of a female on our paper money. 

In the fall of 1 994, Ray Suarez, the learned host of "Talk of 
the Nation” on National Public Radio discussed the forthcom- 
ing changes on our paper money that might include different 
portraits. While interviewing representatives from the U.S.Trea- 
sury and the Bureau of Engraving and Printing Mr. Suarez re- 
marked that the likeness of a woman had never been placed 
on our paper money. The statement went unchallenged. 

The ponrait of Martha Washington, a Virginian, appeared 
on two different silver certificates: the face of the ones dated 
1886 and 189 land the back of the 1896 series. She shared the 
back of the latter with her husband George on which there is a 
large '1 " and 'one' between them. This has prompted the of- 
ten, perhaps too often, quoted remark that both Martha and 
George were wrong about their mutual affection when they 
said that "no one would ever come between them." 


Building in Washington, DC. Each of these eight paintings was 
engraved in miniature and placed on the backs of first charter 
national bank notes. 

In this much-admired painting )ohn Rolfe, her future hus- 
band, stands behind Pocahontas as she kneels with head bowed 
and overtly accepts Christianity; behind Rolfe is Chief 
Powhaton, father of Pocahontas. lohn Rolfe was the grandson 
of Eustace Rolfe. His money helped to build the English ships 
that defeated the Spanish Armada. 

Every school child has heard of the incident when 
Pocahontas flung herself over the body of Captain John Smith 
in order to save his life from hostile members of her tribe. This 
tale, as we have learned, is more legend than fact, lohn Smith 
was the leader of the lamestown, Virginia settlement. 

Pocahontas did not share the hostility of many of her people. 
Perhaps it was her kindness, in addition to her beauty, that 
attracted lohn Rolfe. Before they were married on April 5, 1614 
it was necessary for Pocahontas to accept the Christian faith. 
Since she could not read or write, Pocahontas memorized the 
lengthy, necessary prayers and the Ten Commandments that 
were prerequisites for her baptism. When this Indian princess 
was accepted into the Church of England, she took the name 
of Rebecca. 

lohn Rolfe had arrived in the New World in 1610. On lune 
12, 1616 he, his wife and their son Thomas landed in Ply- 
mouth, England; they had sailed aboard the Treasurer. 
Matachanna, Pocahontas' sister, an uncle and two brothers 
were part of the small party that accompanied lohn and Rebecca 
to England, where Rebecca was entertained by the Bishop of 
London. 

On March 21, 1617, days before lohn Rolfe, his family and 
party were about return to America, Pocahontas became ill 
and died. She was buried at St. George's Church, Gravesend, 
in Kent. Two stained-glass windows in the church honor 
Pocahontas; one is similar to her baptismal image on the $20 
note. These windows were presented by the Society of Colo- 
nial Dames of Virginia in 1914. On Oaober 15, 1958 the 
people of Virginia presented a bronze statue of Pocahontas to 
the church where she was buried. 



Although she is the central figure and the image is small, 
there is a famous native American, another Virginian, whose 
image appears on a 19th century U.S. national bank note. This 
female known to all of us since our grammar school days is 
Pocahontas (the playing one). The back of the first charter $20 
national bank notes includes an engraving of The Baptism of 
Pocahontas by lohn G. Chapman. Charles Burt's engraving for 
American Bank Note Company is based on the large mural- 
like oil painting that measures 14 x 20 feel. With seven other 
historical paintings it adorns the Rotunda of the Ll.S. Capitol 


There are other memorials to this native American female 
whose tiny image graced one of our 19th century bank notes. 
One is at the church of St. Mary the Virgin in Heacham, Nor- 
folk, where the Rolfe family worshiped for centuries; another 
is in the village of Heacham. 

The date of birth for Pocahontas is uncertain; however, it is 
most often assumed to be about 1595. Consequently, 1995 
could have marked the 400th anniversary of her birth. 

(Copyright story reprinted by permission from Coin World, March 27, 
1995.) 




Paper Money Whole No. 1D2 


Page 197 




^kom the ^obe/ii Sffoycf 9fi.&2 

Jeng Qis^e 


The painting was executed by Hans Holbein the Younger 
(1497-1543). National Geographic states, “When the Refor- 
mation slowed the demand for church art, the scholar Erasmus 
sent Holbein, his German protege, from Basel to London with 
a letter of introduction to Sir Thomas More. As a portraitist, 
I lolbein cultivated the Hanseatic merchants of the Steelyard, 
the German house beside the Thames. Their symbol, the steel- 
yard, or scale, here hangs from a shelf. 

, "Holbein, who loved details, pictured 

; T' ihis Danzig trader surrounded by the 
tools of his trade: money box, inkstand, 
quill pens, seal, and scissors. A metal 
ball for string calls to mind the old-fash- 
ioned grocery. A leather container sug- 
gests the modern brief case. The 
carnations shows no change in four cen- 
turies 

"Eventually Holbein became Henry 
Vlll's court painter, but royal connec- 
tions did not save him from an un- 
known grave. He died in a London 
plague." 


HE gent on this German 100,000 mark Reichsbank- 
note from 1 923 is identified as lerg Gisze. Varieties on 
the spelling of his name include Gisse, Ghisse, and 
(Latin) Gysen; however, in the portrait appearing in National 
Geographic magazine, the letter in his hand is from his brother, 
and is addressed to "lerg Gisze." 



MAY I SEE SOME 
IDENTinCATION, 
PLEASE? 


Submitted by BOB COCHRAN 



The Peoples Bank of Indianapolis, Indiana celebrated its 100th 
Anniversary in 1991. The president of the bank, William E. 
"Mac" McWhiner, represents the fourth generation of this fam- 
ily to preside over this bank. 

In the Winter 1991 issue of "Customer Conneaion," the 
bank's newsletter, McWhirter recounted the story of one of 
the bank's "special" customers: 

"The bank's assets were $325 million at the close of 1 990, 
but it does have the quirks of a smaller operation, such as 
Brownie, a cat with a checking account who lived in the Peoples 
Bank building in the 1970s." 

“We even had a signature card for Brownie. 1 inked Brownie's 
paw on the signature card. And when vet bills came in, we 
filled out the check, went down and inked Brownie's paw, and 
rolled it over the signature block — and the check paid." 


SHORT SNORTER COMMENT 

John Gavel informs us that according to the Blockbuster 
Video Guide to Movies and Videos, the movie "Pilebuck," 
mentioned in PAPER MONEY No. 191, was released as 
"Having a Wonderful Crime." 




Page 198 


Paper Money Whole No. 1 92 


THE 

PRESIDENT'S 

COLUMN 

It's difficult to imagine that 1997 is drawing to a close, lodging 
from what I saw, what I read, and what IVe been told by many of 
you, the market for paper money is HOT! I hope everyone had as 
good a year as I've had; I managed to find a few pieces, but it took 
some work. But, as always, it was FUN! 

I emphasize the word "FUN," because that's really the ONLY 
basis for the existence of the SPMC. What's FUN? How about the 
pleasure of sharing your new 'goodies' with a friend in a corner at 
one of the big shows? I was at Knight's Dallas auaion in August; 1 
believe one guy bought every single note from Laredo in that sale. 
When he won the last lot, he was pumping his fist, excited as heck, 
having FUN! And most everybody in the room was happy for him. 

If you weren't one of the top 100 or so folks attending the SPMC 
Breakfast in Memphis, you missed one realiy good time! We truly 
did have a lot of FUN, thanks in no small part to our own Wendell 
W. Wolka (aka World-Wide-Wendell). The annual SPMC Mem- 
phis Breakfast was a sellout this year, and the "Tom Bain Raffle" 
was one heck of a lot of FUN for everyone who stuck around! Guess 
what? If the good Lord's willing and the Mississippi don't rise, we're 
gonna do it AGAIN! If you're in the neighborhood, buy your tick- 
ets and come on in! 

By the way, a significant event took place at the SPMC Breakfast: 
the seleaion of Man Delger as a Numismatic Ambassador by Krause 
Publications and the other Numismatic Ambassadors! What FUN 
it was for Man to receive this wonderful recognition — incredibly 
well -deserved! If you've been to the Memphis show and looked 
through the wonderful exhibits, find Man Delger and thank him 
for taking the time to arrange, schedule, and coordinate the exhib- 
its. Man's only been seeing to it that Memphis-goers have some 
FUN with the exhibits for nearly twenty years! 

It was also FUN to hear the names of the SPMC Literary Award 
winners this year; 'old reliables' like Forrest Daniel, "newcomers" 
like Ronald Benice and Steve Goldberg. These members, and the 
others who put fonh their writing effons to educate and entenain 
alt of us, deserve another solid 'thanks' from each and every SPMC 
member. 

While I'm thanking people. I'd like to thank ludith Murphy for 
getting our Club Aaivities program off the ground. ludith has put 
in a lot of hours this year arranging and hosting SPMC meetings at 
several shows. ludith also put into motion the steps leading up to 
SPMC's new slide presentation about paper money and financial 
documents. This new slide set and some older ones are available 
to YOU if you'd like to make a presentation to your local club! 
Doesn't that sound like FUN? 

One more loud "THANK YOU" needs to be sounded. To Frank 
Viskup, SPMC's top recmiter! Thank you, Frank, we really appreci- 
ate your work! 

Want to have some FUN in 1998? Here are some suggestions: 
(1) Take a copy of PAPER MONEY to your local numismatic club 
and tell everyone about it and the SPMC. (2) Attend one of the 
many SPMC regional meetings being held at the shows around the 
country. (3) How about VOLUNTEERING to host an SPMC meet- 
ing and make a presentation at your dub's annual show? (4) How 
about signing up a new member or two for the SPMC? Today, a 
serious paper money colleaor or dealer who can't reach half a dozen 
new collectors is either lazy or a hermit! (5) If you truly live in a 
place where there are no other collectors to recruit, why not pass 
away some of the nasty weather writing a few anicles for PAPER 
MONEY! 


Finally, if you're a regular member, your 1998 dues statement is 
enclosed with this issue of PAPER MONEY. I hope you'll send in 
your dues promptly. If you don't, you're liable to miss out on the 
FUN we're planning for you in 1998! Happy Holidays. 

Call for Nominations for 1998 

The following governors' terms expire in 1998: Raphael 
Ellenbogen, Dean Oakes, Steven Whitfield and Wendell Wolka. 
If you have suggestions, or if the preceding governors wish to 
run for another term, please notify Bob Cochran, President of 
the SPMC. In addition, candidates may be placed on the bal- 
lot in the following manner: 

(1) A written nominating petition is submitted, which has 
been signed by ten current members. 

(2) An acceptance letter from the person being nominated 
is submitted with the petition. 

Nominating petitions (and accompanying letters) MUST BE 
RECEIVED BY THE PRESIDENT BY lANUARY 15, 1998. 

Biographies of the nominees and ballots for the eleaion will 
be included in the March/April 1998 issue of PAPER MONEY. 
The ballots will be counted at Memphis and announced at the 
SPMC general meeting held during the International Paper 
Money Show. 

First-time nominees should send a portrait and a brief biog- 
raphy to the editor. Gene Hessler. Unless new information is 
sent, the editor will use the same portraits and biographies of 
those who seek another term as governors as were used in the 
past. 

Awards at the 1997 New York ANA 

The following paper money exhibitors were recognized by the 
American Numismatic Association (ANA) in August. 

LI.S. Paper Money: 1st, William H. Horton, Jr., "Silver 
Certificates of 1899"; 2nd, no award; 3rd, Ralph W. Ross, 
"Two Dollar Bills." 

Obsolete Paper Money: 1st, John W. Jackson, "America's 
Eagle”; 2nd, Gerald L. Kochel, "A Type Set of Colonial Notes 
by A. Hubley"; 3rd, no award. 

World Paper Money: 1st, John Zabel, "Two Uncommon 
Heroes"; 2nd and 3rd, no awards. 

General or Specialized: 1st, Mark D. Tomasko, "Western 
Bank Note Company"; 2nd, no award; 3rd, John A. Parker, 
"I.S.G. Boggs and His Paper Money." 

Young Numismatists Award, 1st, Michael Horton, "1951 
Issue of the People's Republic of Bulgaria"; 2nd and 3rd, no 
awards. 

John W. Jackson also shared the First-Time Exhibitor Award 
for his "America's Eagle" exhibit and was runner-up for the 
Best-in-Show Award. 

Once again PAPER MONEY was seleaed by the ANA as the 
Best Club Magazine. All contributors are to be congratulated. 

SPMC Slide Presentation 

A History of Paper Money, a slide presentation and script, pre- 
pared by Gene Hessler for the SPMC, may be borrowed by 
members from the librarian, Roger Durand. This 63-slide pro- 
gram is an excellent way to introduce people to the joy of col- 
lecting paper money. Multiple sets have been made. 
Nevertheless, there could be a waiting period. So, place your 
order well in advance of the date you require the slides. 


Paper Money Whole No. 1 92 


Page 199 


IN MEMORIAM 

Harold Clark Johnson, H.C. lo his friends, was born in 
Tuscumbia, Missouri on 20 March 1920. H.C. died on 
11 August 1997 in Jacksonville, Florida, where he had 
lived since 1959. He attended the University of Mis- 
souri and worked at Curtis Wright Airplane Manufac- 
turer as a payroll supervisor during World War II. 

H.C. was interested in all aspects of money, includ- 
ing its history, manufacturer, distribution, accumula- 
tion and management. After 23 years at C.I.T. he joined 
Barnett Banks of Florida in 1968 as the second full-time 
employee; H.C. retired in 1988. He pioneered Barnett's 
entry into the consumer loan business and Bank 
Americard, a forerunner of VISA. He was Barnett's chief 
lobbyist in Tallahassee and Washington, D.C. He firmly 
believed that each of us makes our own opportunities, 
and he lived his life accordingly. 

Dee, his wife and friend for 48 years, his family and 
friends will miss H.C. {Carling Gresham) 


NEW JiflEMBERSHIP COORDINATOR 


MEMBERS 

9260 David Heim, P.O. Box 992, Benhoud, CO 80513; C. 

9261 Peter I. Romano, 39 S. Middle NeckRd., Great Neck, NY 1 1021; 
C&D, ll.S., CSA & world. 

9262 Tim P. Keo, 26620 Lake Rd., Bay Village, OH 44140; C. 

9263 A. Chris Could, 9-B Dennison Dr., E. Windsor, NJ 08520; C, Nl 
obsoleies & NBN, world. 

9264 Patrick McCann, 215 W Canada Ave., Suite A, San Clemente, 
CA 92672-5000; C, ll.S. Ig. size notes. 

9265 David |. Lynch, 13217Tifton Dr.,Tampa, FL33618;C, Ig. size 
gold & sil. certs., railroad notes and nat. gold bank notes. 

9266 Tim Mabee, 4 Libeny Dr., Saratoga Springs, NY 12866; C, 
Saratoga Springs and NY notes. 

9267 Richard T. Cregg, P.O. Box 430, Hackensack, N) 07602-0430; 
C. 

9268 R.l. Corsiglia, 2655 Garfield, Highland, IN 46322; C. 

9269 David Reidling, 3413 Brook Glen Dr., Garland, TX 75044-5455; 
C. 

9270 Jeff Scherer, 2907 Cortez Rd., lacksonville, FL 32446-0702; C, 
ll.S. sm. size & errors. 

9271 Louie C. Smith, 500 Bradley Ln., Dumas, TX 79029-3131; C, $2 
notes. 

9272 Andy MacKay, P.O. Box 9495, Tulsa, OK 74107; C. 

9273 lohn H. White, P.O. Box 64 1, Massena, NY 13662; C, NY NBN. 

9274 Thomas Bruman, 8892 Manley Rd., N.W., Alden, Ml 49612- 
9614; C, Lg. size NBN & Canada. 

9275 LRon Doucette, 1412 Soplo Rd., SE, Albuquerque, NM 87123; 
C, world & ll.S. 

9276 F.S. Barringer, |r., 3009 Mills Ln., Monroe, LA 71201; C, Lg. size 
low grade Ll.S. 

9277 Fred Southerland, 25 Summerhill Dr., Asheville, NC 28804; C, 
obsoletes. 

9278 Rickey Kent, 20 Prince Arthur Ave., Apt. 2 IF, Toronto, Ontario 
Canada M5R1B1; C, Commemorative & replacement notes, 
British Commonwealth & world. 

9279 lohn Condon, 4271 Wooddale Ave. South, St. Louis Park, MN 
554 1 6-3255; C, fract. & gold certs. 


NEW 


Frank Clark 
P.O. Box 117060 
Carrollton, TX 7501 1 



9280 Anhur E. Atwood, P.O. Box 1027, Rockaway Beach, MO 65740; 
C&D. NBN. 

9281 Donald G. lies, PSC 1005 Box 37, FPO AE 09593, G, sm. size, 
fract. & C;SA. 

9282 Edward McConnell, |r„ 28 W. Front St., Florence, Nl 085 1 8; C, 
Lg. size notes. 

9283 Daniel Whishnalsky, P.O. Box 19348, Washington.D.C. 20036; 
C, Fracts., NBN & scrip. 

9284 John R. Varoscak, 116 Central Park South, New York City, NY 

10019; C, Ll.S. Lg. size. 

9285 Thomas |. Gannon, 1460 Cornell Terrace, Hoffman Estates, IL 
60194; C, WWll military currency. 

9286 Christophers. Goshom, 5125 North Dr., Moss Point, MS 39563- 
2013; C & D, Lg. size ll.S. 

9287 Edward Gurley, 4732 Radcliff Rd., Raleigh, NC 27609; C. 

9288 Michael H. Deich, 314-B Mall Blvd., Savannah, CA31406; C&D, 
NBN & lg. size notes. 

9289 Kenneth Brady, P.O. Box 663, Pon lefferson, NY 11777-0663; 
C, NBN. 

9290 Bill Webster, 19 Bonnie Dr., Westbury, NY 1 1590; C, NY obso- 
letes. 

9291 Randy K. Vogel, P.O, Box 4554, Uguna Beach, CA 92652; C, 
Ll.S. & Mohawk, NY NBN. 

9292 Howard Weisberg, 5103 Coke Ave., l.akewood, CA 90712; C. 

9293 Hollis O'Neal lr„ 5201 Larkway, Nashville, TN 3721 1-6060; C. 

9294 lim McCardell, 158County Route 357, Medusa, NY 12120-2004; 
C. 

9295 William L. King |r., 9 Hoyt Rd., Sherman, CT 06784; C. 

9296 Robert A, Quinn, 1366 Center St., McKees Rocks, PA 15136- 
1905; C, ll.S. 

9297 Alexander Delatola, 243 W. 98th St. 5A, New York, NY 10025; 
C&D, ll.S. 

9298 David Spencer, Unit 51 16, APO AA 34038; C, Sm. size star & 
web notes, 

9299 H. Hal McKinney, 627 N. Main, Rockville, TX 76567; C, Texas, 
C.S.A. 

9300 David Mattingly, 6706 Township Tr., Austin, TX 78759; C. 

9301 Harold E. Thomas, 806 E. Jersey Rd., Lehigh Acres, FL 33936- 
6422; D, paper money, banks and banking lit. 

9302 Todd M. Morgan, 133 1 Monaco Dr., Pacific Palisades, CA 90272; 
C. 

9303 Michael S. lones, P.O. Box 560 114, Miami, FL 33256-01 14; C, 
Florida and Southern states. 

9304 Raymond Gambale, 1 58-05 83rd St., Howard Beach, NY 11414; 
C. 

9305 G. Douglas ITiom, 5505 S. BristerCr., Murray, Utah 84123; C, 
U.S. lg. size & error notes. 

9306 Roscoe Yoder, POB 128-102 Lincoln, Denton, KS 66017; G, U.S. 

9307 Ken Sultana, P.O. Box 580422, Flushing, NY 1 1358-0422; C. 

9308 Pete Sullivan, P.O. Box 177, Eldridge, CA 95431; C, lg. size high 
denom. 

9309 Harris Whittenbeck, 722 E. 3rd #50, Florence, CO 81226; C, 
U.S. 

9310 Steve z^ttle, 554 E. Linden St., Fleetwood, PA 19522; C. 

9311 William J. Slemmer, 1050Springwood Dr., Fremont, OH 43420; 
C, silver and gold certs., MPC. 

9312 Laura L. Slemmer, 1050 Springwood Dr., Fremont, OH 43420; 
C, error & star notes prior to 1935. 

9313 William L. Reiser, 1926 Tice Valley Blvd., Walnut Creek, CA 
94595; C, $2 notes and Lincoln portraits. 

9314 Jim Majoros, 65 16th St., Toms River, NJ 08753; C. 

9315 John Carl Youngerman, P.O. Box 1703, Whiteville, NC 28472- 

1703; C&D, NC, Ll.S.A. & C.S.A. 

9316 Lawrence Eggen, 230 Continental Dr., Lockport, NY 14094; C. 

9317 Sandy Kenar, 445 1 Murietta Ave. # 1 6, Sherman Oaks, CA 9 1 423; 
C. 

9318 Brian Zapatka, 1408 Valleybrook Ct., Crovetown, CA 30813- 
9775; C, CA obsoletes. 

9319 Louis Lenhard, Randolph-Macon Academy, 201 W. Third St., 
Front Royal, VA 22630; C. 

9320 Clayton LaFountain, 288 Newfield, Hartford, CN 06106-3631; 
C. 




Page 200 


Paper Mone)’ Whole No. 1 92 


9321 Sieve Sweeney, 5515 Vista Dr. Apt. 135, West Des Moines, lA 
50266; C, lA NBN & Ig. size notes. 

9322 Terry Hughes, 4001 N. 9th St. #302, Arlington, VA 22203; C, 

LI.S. 

9323 lack Seebra, 5500 Balboa Cl., Pinson, AL 35 1 26; C, NBN & MPC, 

9324 Michael Maclennan, 33562 Big Sur, Dana Point, CA 92629- 
2004; C. 

9325 Sylvere Valentin, 4 140 Grandview Apt 7, Los Angelos, CA 90066. 

9326 Michael Morine, 17300 E. 1 7th St. Suite 1-252, Tustin, CA 92780- 

1955; C&D, ll.S. 

9327 Marc Napolitan, 1318 Forest St., St. Paul, MN 55106-2031. 

9328 Thomas S. Costello, 13454 Bonita Heights St., Moorpark, CA 
93021-2210; C&D, ll.S. & MPC. 

9329 William C.Tiedgen, 545 Compton Ave., Perth Amboy, N) 08861- 

3006; C, N| obsoletes. 

9330 Greg Culpepper, 1101 Sydney Terrace, Mt. luliet, TN 37122- 
7558; C, all ll.S. 

933 1 Eugene Kim, 1220 Freedom Rd., Freedom, PA 1 5042; C, Ig. size 
notes. 

9332 Lawrence M. Clever, 1624 Glencoe Way, Glendale, CA 91208; 
C, ll.S. Ig. size notes. 

9333 Robert Deininger, 7 Denver Cl., Coram, NY 11727; C, sm. size 
gold cert. 

9334 Frank N. Harris, 824 N, Shepard, El Reno, OK 73036; C. 

9335 David Cothran, 1 0 1 9 N. Lindeke St., Spokane, WA 99201-1 545; 
C&D, NBN. 

9336 Roger E. Thomas, 12163SanibelCoun, Reston, VA2019I-1209; 
C, Pakistan, India, Armenia, Russia. 

9337 Larry W. Gotten, P.O. Box 5732, Cary, NC 27512-5732; C&D, 
NC& VANBN. 

9338 Ira A. Waldman, P.O. Box 46035, Chicago, IL 60646; C&D, ll.S. 
and errors. 

9339 Denis Novakovic, Pod Dridom 13, HR-21222 Marina, Croatia; 

C, world notes. 

9340 Barry Broyde, 170 W. 74 St., NY, NY 10023; C, Ll.S. 

934 1 Anthony O'Neil, P.O. Box 159, Argyle, NY 12809; C&D, errors, 
sm. size notes. 

9342 lay D. Watson, 30 Winchester Cyn. #106, Goleta, CA 931 17; C, 
fraa.. Colonial through depression scrip, Mexican Rev. 

9343 William R. lohnson, #15 Dixie Dr., Fenton, MO 63026; C. 

9344 lay Weaver, 4017 15th St., Columbus, NE 68601; C. 

9345 Marcus Turner, 389 Austin Dr., Avon, IN 46234; C. 

9346 Richard Spieske, 17658 Mack Ave., Crosse Poinie, Ml 48224; 

D. 

9347 LI. McClellan, 8124 Long Point St., Houston, TX 77055; C&D, 
obsoletes, U.S,, CSA, sheets, 

9348 Bruce H. Axler, P.O. Box 1288, Ansonia Station, NY 10023; C. 

9349 Lee Davis, 3317 Cardenas NE, Albuquerque, NM 871 10; C. 

9350 Sidney Karp, 547 Central Ave., 32B, Cedarhurst, NY 11516; C, 
U S., Israel, Palestine, Great Brit. & colonies. 

9351 Robert Ingersoll, P.O. Box 1775, West Memphis, AR 72303; C, 
U.S. & obsolete $ls & AR obsoletes. 

9352 Dan Dorff, 5018 Uredo PL, Alta Loma, CA 91737; C, U.S. 

9353 Glenn H. Fishe, 300 College St. Apt. #34, Manchester, TN 37355; 
C, U.S. & obsoletes. 

9354 Frank Boone, P.O. Box 481, Danbury, TX 77534-0481; C&D. 

9355 Sharon K. Clark, P.O. Box 1032, Nashville, IN 47448; D. 

9356 lames W. Millegan, 1 1 1 SW 5th Ave., Suite 4090, Portland, OR 
97204; C. 

9357 Lyle Eads, 3 Emily St., Paris, KY 40361; C&D, Ig. size & fract. 

9358 Allen Fletcher, 20543 Holly Cir„ Strongsville, OH 44136; C. 

9359 Mark T. Reichart, 1524 Bagdad Rd., Waterford, PA 16441; C, 
NBN, 

9360 Izie Deshazo, Rt. 2 Box 520, Headland, AL 36345; C. 

9361 Henry Yeager, P.O. Box 58, Royal, IA51357; C&D, silver & gold 
cert. & U.S. notes. 

9362 Charles Cortes, P.O. Box 44, NY, NY 10029; C, U.S. small size 
notes. 

9363 Gary K. Cunstrom, 4520 Rathbun Lane, Stevensville, MT59870; 
C, U.S. Ig. size & C.S.A. 


LM226 Bill Lynch, 8014 SW 62nd Place, Portland, OR 97219; C, con- 
verted from 9112. 

LM227 Clark E. Nixon, P.O. Box 965, U Crosse, Wl, 54602-0965; C, 
converted from 234. 

LM228 leffTyler, 4074 S. Atchison Way, No. 103, Aurora, CO 80014; 
C, converted from 8713. 

LM229 Huston Pearson, Ir., 604-A W. Randol Mill Rd., Arlington, TX 
7601 1; D, converted from 8793. 


money 
mart 

Paper Money will accept classified advertising from members only on a basis of 
I5« per word, wiih a minimum charge of $3.75. The primary purpose of the 
ads is to assist members in exchanging, buying, selling, or locating specialized 
material and disposing of duplicates. Copy must be non-commercial in nature. 
Copy must be legibly printed or typed, accompanied by prepayment made pay- 
able totheSociety of Paper Money Col leaors, and reach the Editor, Gene Messier, 
•PO. Box 31 144, Cincinnati, 011 45231 by the first of the month preceding the 
month of issue (i.e. Dec. 1 for Ian. /Feb. issue). Word count: Name and address 
will count as five words. All other words and abbreviations, figure combina- 
tions and initials count as separate. No check copies. 1 05li discount for four or 
more insertions of the same copy. Sample ad and word count. 

WANTED: CONFEDERATE FACSIMILES by llpham for cash or trade 
for FRN block letters, $ 1 SC, U.S. obsolete, lohn W. Member, 000 Last 
St., New York, N.Y. 10015. 

(22 words: $2; SC: ll.S.: FRN counted as one word each) 

NYC WANTED: Issued NYC, Brooklyn obsoletes; issued/unissued ob- 
soletes from locations within present-day Manhattan, Brooklyn, Bronx, 
Queens. Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725- 
0402. (193) 

WW II MILITARY CURRENCY MY SPECIALTY! Periodic price lists 
for 554 SASE; MPC, Philippine Guerilla, lapanese invasion, world 
coins-paper-stamps, U.S. coins-paper-stamps. Confederate, obsoletes, 
FRN, stocks-bonds. 702-753-2435. Edward B. Hoffman, P.O. Box 6039- 
S, Elko, NV 89802-6039. (192) 

OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $6. 
Also buy! Ken Prag, Box 14817-PM, San Francisco, CA 94114. (415) 
586-9386. (198) 


MASSACHUSETTS LARGE- AND SMALL-SIZE NA'HONAL BANK 
NOTES WANTED from Buzzards Bay, Edgartown, Falmouth, Harwich, 
Hyannis, Nantucket, Tisbury, Provincetown and Yarmouth, Frank 
Bennett, P.O. Box 8722, Port St. Lucie, FL 34985, (197) 

WANTED: Bank/Banking Histories, Bankers' Directories for personal 
library. Will send my 'want" list, or offer what you have. Bob Cochran, 
Box 1085, Florissant, MO 63031. 


MARYLAND WANTED. Obsoletes and National Bank Notes from "The 
Howard Bank," "Howard Park Steam Cotton Faaory," "Howard Street 
Savings Bank," and 'National Howard Bank of Baltimore (Charter 
4218)." I will pay a substantial premium above current pricing. Howard 
L. Cohen, 3170 N.E. Loop Drive, Otis, OR 97368. Tel: (541) 994- 
8988; Fax: (541) 994-7189, ore-mail to "lakeside@wcn.net." (195) 

WORLD PAPER MONEY WANTED. 1 buy collections, accumulations 
and better single notes. Ship with price or for my offer. I issue both 
retail and wholesale world paper money price lists, which are sent 
upon request. Richard L. Ainsworth, Box 42279, Las Vegas, NV 89 1 16, 
FAX 702-878-4045. 




Paper Money Whole No. 1 92 


Page 201 



* » / f 3^n ii 1 * nx • » *'>J* V ^ 




COLO CERTIFICATE 


PRICE LIST 


■D709905> 


i<t3a-;;sg»g*oa>j 

^re/t d^y/t 


N929442S- 


SUPERB 

UNITED STATES CURRENCY 

FOR SALE 


SEND FOR 

FREE 


is»C3War:>S«jO ' T UIjS, Tjl/ikT' 


felt. tfijH/.. 


BOOKS FOR SALE 


PAPER MONEY OF THE U.S. by 

Friedberg. Nth Edition. Hard Bound. $18.50 
plus $2.50 postage. Total price $21.00. 

COMPREHENSIVE CATALOG OF 
U.S. PAPER MONEY by Gene Messier. 
6th Edition. Hard cover. 579 pages. The new 
Edition. $32.00 plus $3.00 postage. Total 
price $35.00. 

THE ENGRAVERS LINE by Gene 
Messier. Hard cover. A complete history of 
the artists and engravers who designed U.S. 
Paper Money. $75.50 plus $3.50 postage. 
Total price $79.00. 

NATIONAL BANK NOTES by Don 

Kelly. The new 3rd Edition. Hard cover. 
Over 600 pages. The new expanded edition. 
Gives amounts issued and what is still 
outstanding. Retail price is $100.00. Special 
price is $65.00 plus $4.00 postage. Total 
price $69.00. 

U.S. ESSAY. PROOF AND SPECIMEN 
NOTES by Gene Messier. Hard cover. 
Unissued designs and pictures of original 
drawings. $14.00 plus $2.00 postage. Total 
price $ 1 6.00. 


Stanley Morycz 

P.O. BOX 355, DEPT. M • ENGLEWOOD, OH 45322 

937-898-0114 




Page 202 


Paper Money Whole No. 1 92 


Pay over "bid" for many 
Pay over "ask" for some 
Pay over Hickman-Oakes for many nationals 
Pay cash - no deal too large. 

All grades wanted, Good to Unc. 

at 77, I can't afford to wait. 

Currency dealer over 50 years. 

A.N.A. Life #103 (58 years) 

A.N.A. 50-Year Gold Medal Recipient, 1988 
P.N.G. President 1963-1964 


A.M. KAGIN 

910 Insurance Exchange Bldg. 
Des Moines, lA 50309 
(515) 243-7363 


Buy: Uncut Sheets - Errors — Star Notes — Checks 
Confederate — Obsolete — Hawaiiana — Alaskiana 
Early Western — Stocks — Bonds, Etc. 





Paper Mone}’ Whole No. 1 92 


Page 203 


Hot off the presses 



(comprehensive Catalog of 

U. S. Paper 


Comprehensive 
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American Automotive Stock Certifleates 
Lawrence Falater 



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cates by Lawrence Falater is an 
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Page 204 


Paper Money Whole No. ] 92 







William Youngerman, Inc. 

Rare Goins & Currency 
''Since 1967" 

P.O. Box 177, Boca Raton, FL 33429-0177 


§ EARLY 
I AMERICAN 
NUMISMATICS 

* 619 - 273-3566 

COLONIAL & 

CONTINENTAL 

CURRENCY 


SPECIAUZING IN: 

□ Colonial Coins 

o Colonial Currency 

□ Rare & Choice Type 
Coins 

□ Pre l800 Fiscal Paper 

□ Encased Postage Stamps 


SERVICES: 

D Portfolio 
Development 
□ Major Show 
Coverage 
Q Auction 
Attendance 


We maintain the 
LARGEST 

ACTIVE INVENTORY 
IN THE WORLD! 


SEND US YOUR 
WANT LISTS. 
FREE PRICE 
LISTS AVAILABLE. 


o EARLY AMERICAN NUMISMATICS □ 

c/o Dana Linett 

□ P.O. Box 2442 □ LaJolla, CA 92038 □ 

619-273-3566 

Members: Life ANA. CSNA-EAC, SPMC. FUN, ANACS 





Paper Mone}' Whole No. 192 


Page 205 



Third Edition by Don. C. Kelly 



The third edition of this standard reference on 
America’s Home Town Paper Money has been 
updated and expanded. With over 600 pages and 200 
illustrations, there are many new features, including 
chapters on uncut sheets, error notes, and 
counterfeits. Realistic evaluations and detailed 
population reports based on a census of nearly 
200,000 nationals tell you how many notes have 
survived and what they’re worth. Maps of each state 
show the locations of all towns which had note-issuing 
national banks. 


List Price: $100. SPMC members should be able to 
buy at a discount from many of the distributors 
listed below. See Gene Hessler’s review on p 91 of 
the May/June 1997 issue of Paper Money. 


Allen’s 399 South Slate Si Westerville, OH 43081 (800)848-.3966 
Brooklyn Gallery POBox090-l46 Brooklyn. NY 11209 (718)745-5701 
Classic Coins POBox95 Allen, MI 49227 (517)869-2541 
Commercial Coin l6IIMarkclSl Camp Hill. PA I70II (717)737-8981 
Denly's of Boston 75 Federal St Rm620 Boston. M A 02205 ( 800)443-3659 
Emporium Coin PO Box 606 Moorhead. MN 56560 (800)248-9751 

R A Glascock 120 Remount St San Antonio, TX 78218 (210)655-2498 
Hartville Coin Exch 1015 Edison St Hanville. OH 44632 (330)699-3952 
Fountain Square Stamp & Coin 27 Fountain Square Plaza Cincinnati. OH 45202 
(513)621-6696 

Hamp’s Supply 9440 Old Katy Rd Suite 121 Houston, TX 77055 (800)258-8906 
Harlan Berk. Inc 3 1 Nonh Clark St Chicago, IL 60602 (312)609-0016 
David Hollander 406 Viduta Place Huntsville. AL 35801 
Lake Region Coin & Currency POBox48 Devils Lake, ND 58301 
(701)662-5770 

Las Vegas Rare Coin Galleries 3661 So Maryland Pkwy 9N Las Vegas. NV 
89109 ( 702)732-8192 

Louisville Numismatic Exch 527 South 3rd St Louisville. KY 40202 
(502)584-9879 

Lyn F Knight P O Box 7364 Overland Park. KS 66207 (913)262-7860 
Metro Wholesale Supply 7880 A Washington Blvd Elk Ridge. MD 21227 
(410)799-1111 

NICS 122 South Grove Elgin. IL 60120 (847)695-0110 (847)695-0127 
Numismatic & Philatelic Arts PO Box 9712 Santa Fc. NM 87504 
(505)982-8792 

William Panitich 855 Central Avc #103 Albany. NY 12206 (518)489-4400 
Paper Money Institute POBox85 Oxford, OH 45056 (513)523-6861 

Pollard’s Coin & Stamp 5220E23rdSt Indianapolis. IN 46218 (317)547-1306 
Rare Coin Inv 22033 Kelly Rd Eastpointc. Ml 48021 (810)773-9540- 
Stanley Morycz P O Box 355 Englewood, OH 45322 (937)898-0114 
SilverTowne POBox424 Winchester, IN 47394 (800)788-7481 
Stone Mountain Supply 6820 Meadowridge Ct Suite A5 Alpharetta. GA 
30202 ( 770)886-3418 

Toledo Coin Exch 5590 Monroe St Sylvania, OH 43560 (4 1 9)885-3444 
William Youngerman PO Box 1 77 Boca Raton. FL 33429 (800)327-5010 


WANTED 

ALL STATES ESPECIALLY THE 
FOLLOWING: TENN-DOYLE & TRACY 
CITY: AL. AR. CT. GA. SC. NC. MS. MN. 
LARGE & SMALL TYRE 

ALSO 

OBSOLETE AND CONFEDERATE 
WRITE WITH GRADE & PRICE 

SEND FOR LARGE PRICE 
LIST OF NATIONALS— 
SPECIFY STATE 

SEND WANT LIST 

DECKER’S COINS & CURRENCY 

RO. BOX 69 SEYMOUR. TN 
37865 (615) 428-3309 

LM-120 ANA 640 FUN LM90 


Million Dollar 
Buying Spree 


Currency: 

Nationals 
Lg, & Sm. Type 
Obsolete 


MFC 

Fractional 

Foreign 


Stocks • Bonds • Checks • Coins 
Stamps • Gold • Silver 
Platinum • Antique Watches 
Political Items • Postcards 
Baseball Cards * Masonic Items 
Hummels • Doultons 


Nearly Everything Collectible 

COIN 
SHOP 
INC 




EST. i960 




399 S. State Street - Westerville. OH 43081 
1-614-882-3937 



Uf* M«nb«r 


1-800-848-3966 outside Ohio 





Page 206 


Paper Money Whole No. 1 92 




NliriONAl 


( I KKI NC y 


11 A63811 


MYLAR D CURRENCY HOLDERS 

PRICED AS RDLLOWS 

BANKNOTE AND CHECK HOLDERS 


SIZE 

INCHES 

50 

100 

500 

1000 

Fractional 

43 /ax 23/4 

$16.50 

$30.00 

$137.00 

$238.00 

Colonial 

5'/2X3Vi6 

17.50 

32.50 

148.00 

275.00 

Small Currency 

65/8X2% 

17.75 

34.00 

152.00 

285.00 

Large Currency 

73/8X3'/2 

21.50 

39.50 

182.00 

340.00 

Auction 

9x33/4 

25.00 

46.50 

227.00 

410.00 

Foreign Currency 

8x5 

28.00 

52.00 

239.00 

430.00 

Checks 

^/8x4'/4 26.50 49.00 

SHEET HOLDERS 

224.00 

415.00 

SIZE 

Obsolete Sheet 

INCHES 

10 

50 

100 

250 

End Open 
National Sheet 

83/4x14'/2 $13.00 

$60.00 

$100.00 

$230.00 

Side Open 

Stock Certificate 

8'/2X17'/2 

25.00 

100.00 

180.00 

425.00 

End Open 

Map and Bond Size 

9'/2X12’/2 

12.50 

57.50 

95.00 

212.50 

End Open 

18x24 

48.00 

225.00 

370.00 

850.00 


You may assort noteholders for best price (min. 50 pcs. one size). You may 
assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total). 

SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE 

MylarO* isaRegtsleredTraOemarkoftheDupontCorporabon This also applies to urv 
coated archival quality Mylar* Type D by the Dupont Corp or the equivalent material 
by ICI Irxluslnes Corp. Mehnex Type 516 

DENLY’S OF BOSTON 

P.O. Box 1010 617-482-8477 Boston, MA 02205 
ORDERS ONLY: 

800-HI-DENLY FAX 617-357-8163 


BOOKS ON PAPER MONEY & RELATED SUBJECTS 


The Engraver's Line: An Encyclopedia of Paper Money & 


Postage Stamp An, Hessler $85 

Comprehensive Catalog of U.S. Paper Money 

Errors, Ban 35 

The Comprehensive Catalog of U.S. Paper Money, 

Hessler 40 

U.S. Essay, Proof & Specimen Notes, Hessler 19 

The Houston Heritage Collertion of National Bank 

Notes 1863-1935, Logan 25 


National Bank Notes, Kelly 45 

U.S. National Bank Notes & Their Seals, Prather 40 

Paper Money of the U.S., Friedberg. 14th edition 24 

Prisoner of War & Concentration Camp Money of the 

20th Century, Campbell 35 

Small-Size U.S. Paper Money 1928 to Date, Oakes & 

Schwartz. Softbound , 25 

World Paper Money, 7th edition, general issues 55 

World Paper Money, 7th edition, specialized issues 60 


10% off five or more books / SHIPPING: S3 for one book, $4 for two books. $5 for three or more books. All books are in new condition & 

hardbound unless otherwise stated. 

CLASSIC COINS — P.O. BOX 95 — Allen, MI 49227 


I COLLECT 

MINNESOTA OBSOLETE CURRENCY 
and NATIONAL BANK NOTES 

Please offer what you have for sale. 

Charles C. Parrish 

P.O. Box 481 

Rosemount, Minnesota 55068 
(612) 423-1039 

SPMC LM114 - PCDA - LM ANA Since 1976 


jy/i 


UNII^ IC4LV 


P.O. BOX 84 • NANUET, N.Y 10954 


Buying / Selling: 


OBSOLETE CURRENCY, NATIONALS, U.S. 
TYPE, UNCUT SHEETS, PROOFS, SCRIP. 
Periodic Price Lists available: Obsoletes 
($3 applicable to order). Nationals, & U.S. Large & 
Small Size Type. 


PHONE or FAX 

BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352-9077 







Paper Money Whole No. 1 92 


Page 207 




F 000126 A 


CANADIAN 

BOUGHT AND SOLD 

• CHARTERED BANKNOTES. 

• DOMINION OF CANADA. 

• BANK OF CANADA. 

• CHEQUES, SCRIP, BONDS & 
BOOKS. 

FREE PRICE LIST 

CHARLES D. MOORE 

P.O. BOX 5233P 

WALNUT CREEK, CA 94596-5233 


HARRY 
IS BUYING 

NATIONALS — LARGE 
AND SMALL 

UNCUT SHEETS 
TYPE NOTES 

UNUSUAL SERIAL NUMBERS 

OBSOLETES 

ERRORS 

HARRY E. JONES 


PO Box 30369 
Cleveland, Ohio 44130 
216-884-0701 


Buying & Selling 

National Bank Notes, Uncut Sheets, Proofs, 
No. 1 Notes, Gold Certificates, Large-Size 
Type Error Notes, Star Notes. 

Commercial Coin Co. 

P.O. Box 607 
Camp Hill, PA 17001 


Phone 717-737-8981 


Life Member ANA 639 


HE UKF IIU 
UE19IIIL Mil 
CAMP Hat 




Phillip B. Lamb, Ltd. 

Confederate States of America, Historical connoisseur 
Avidly Buying and Selling: 

Confederate Autographs, Photographs, Documents, Treasury Notes and Bonds, 
Slave Papers, U.C.V., Obsolete Bank notes, and General Memorabilia. 

Superb. Friendly Serviee. Dinplayinp at many major trade shows. 


Quarterly price lists: 

$8 ANNUALLY 

Want lists invited 
Appraisals by fee. 


Phillip B. Lamb 
P.O. Box 15850 

New Orleans, LA 70175-5850 
504-899-4710 


LIFE MEMBER A.N.A. *1995 C.N.A. *143 C.P.M.S. *11 





Page 208 


Paper Mone)’ Whole No. 1 92 




TREAT YOURSELF TO THESE TWO! WE BOUGHT 
THE OVERPRIHT!! REALLY GREAT BOOKS!! 


COLLECTING PAPER MONEY FOR PLEASURE 
AND PROFIT Barry Krause. 

Covers Foreign & U.S. Paper Money, Stocks, Bonds 
Checks, A Comprehensive Guide for Collectors & 
Investors!! 250+ pp.. Heavily Illustrated. Pub. at 
$22.00, Now $16.00 ppd. 

COLLECTIBLE AMERICAN COINS by Ken Bressett 
(Pres. ANA and Editor Redbook) 

Gorgeous oversized book full color throughout, 
details on all U.S. coin types. Colonials, Commem- 
oratives, 350 pp. Real Value — was $30.00, Now 
$18.00 ppd. 

Buy Both For Just $29.95 ppd. 


SANFORD DURST 

1 1 Clinton Avenue 
Rockville Centre, NY 1 1 570 USA 
Ph.1-516-766-4444 • FAX 1-516-766-4520 


• H = Hard Cover, S - Soft Cover 

• Shipping add $3.00 first, $1,00 each additional title. 

• NY State Residents — add sales tax. 

• Full book lists available: Foreign 800+ titles; llS/Canada 500+ tities; 
Ancient/Medieval 500+ titles $1.50 each (postage); all $3.00 

• Special Requests Honored. 


WANTED 

WISCONSIN NATIONALS 


C. Keith Edison 
P.O. Box 845 

Independence, Wl 54747-0845 
(715) 985-3644 FAX (71 5) 985-5225 


WANTED IN NEW YORK! 

15T M.B. or TARRYTOWM CM #364 
MOUNT VERMOM M.B. CM #8516 

A HAtiDSOME AEWAAD WILL BE PAID FOB THE 
CAPTUBE AHD 5UBBEHDEB OF EITHEB OB BOTH 
OF THE ABOVE E5CAPEE5 

FRANK LEVITAN, 4 CRE5T AVE., 
LARCMMONT, M.Y. 10538 
TEL 914 - 834-6249 



























Realize Top Market Price 
! for Your Paper Money! 


Highlights from the April 1997 
Louis L Eliasberg, Sr., Collection 



A cut sheet of four 
$10 Legal Tender notes. F-123 
in Average New to Choice New 
realized $17,600. 



A $5 Federal Reserve Bank note. 
F-782* in EF realized $7,150. 



A $10 Silver Certificate. F-1700 

in Gem New realized $8,800. 
V 


The currency market is hot! In recent months we have seen a tremendous 
amount of buying activity and invite you to jump on the bandwagon. Con- 
sider selling your important notes and currency items in our upcoming auc- 
tion to be held in conjunction with the November Suburban Washington/ 
Beiltimore Convention. The same bidders who helped set the world record 
prices in our recent sales (March in Baltimore and the Qiasberg sale in April), 
will compete for your currency items as well. Call Dr. Richard A. Bagg toll- 
free at 1-800458-4646 to reserve a space for your material. It may weO be 
the most financially rewarding decision you have ever made. 

Highlights from the March 1997 

' Halpem & Warner Collection 

A $100 One- 
Year Note, 
believed to be 
unique, realized 
$8,250 


An Interest 
Bearing $5,000 
Proof Note 
realized 
$ 11,000 




An Uncirculated 
Lazy Two $2 note 
from the State of 
Missouri, Town of 
California 
realized $4,840. 



Auctions by f ; 
Bowers and 


Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 
FAX: 603-569-5319 • www.bowersandinerena.com 





vl| 


& 


T IN YOUR FUTURE $UCCE$$ 

WITHOUT SPENDING A LOT OF CA$H! 


iM 


vM 


Standard 
Catalog of 
United 

States Paper 
Money 

16th Edition 
by Chet 
Krause & 

Bob Lemke, 
Robert 
Wilhite. 

Editor 

Put the latest 
values for 
more than 

5.000 pieces of U.S. currency at your 
fingertips the next time you buy or sell. 
More than 600 clean sharp photos help 
you identify the notes of importance to 
you. Covers more than 184 years of 
U.S. paper money, including all new 
issues through the 1997 series. Not 
just a price guide, it's an encyclopedia 
reference to U.S. currency and national 
bank notes by type and signature vari- 
ety. A “must" for U.S. paper money col- 
lectors. 

Hardcover • 8-1/2x1 1 • 248 pages • 600 
b&w photos • SP16 • $24.95 

Standard 
Catalog of 
World 
Paper 
Money, 
General 
Issues 
Volume II, 
8th Edition 
by Albert 
Pick 
Solidify 
your 

authority on world paper money. 

Albert Pick compiles 18,000+ listings 
from 230 note-issuing authorities. The 
only English language reference for 
pre-1960 international bank notes. 
Hardcover • 8-1/2x1 1 • 1 ,232 pages • 

10.000 b&w photos • PM08 • $55.00 



EPiraHOir 

!92>TODirE 


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Standard Guide 
to Small Size 
U.S. Paper 
Money 

2nd Edition 
by Dean Oakes & 
John Schwartz 
This new updated 
edition provides 
you with the most 
complete listings 
ever published for 
small-size U.S. 
paper money 
from 1928-1988, including higher denomi- 
nation notes and the new $100 bill. 
Updated serial number information and a 
complete overhaul of web notes coverage 
make it essential for serious collectors. 
The easy-to-use format features large 
type and well-spaced columns. More 
than 250 nearly full-sized photos help 
promote positive note identification with- 
out added eyestrain. Accurate prices are 
included in three grades of condition. 
Softcover *6 x 9 * 400 pages • 250 b&w 
photos • HP04 • $24.95 

Early Paper 
Money of 
America 

4th Edition 
by Eric P. 
Newman 
Compile his- 
torical and 
descriptive 
data on 
American 
paper curren- 
cy from 1 686 
to 1800. Eric P. Newman has complete- 
ly revised and updated his popular 
book to include current values of all 
available bills. 

Hardcover • 8-1/2x1 1 • 480 pages • 

930 b&w photos • 1 00 color photos • 
EP04 • $75.00 




1997 
Standard 
Catalog of 
World Paper 
Money 
Volume III, 
Modem 
Issues. 3rd 
Edition 
by Colin R. 
Bruce II & 
George S. 
Cuhaj 

Find the latest 
valuations for 
world paper 
money issues 
of the modern period, 1961 to date, in 
this one handy reference. The newly 
updated 3rd edition features more than 
375 note issuing authorities, and nearly 

10.000 listings, including current issues 
and expanded signature charts, dates 
and varieties. Significantly more photos 
make identification a breeze. 
Alphabetical-by-country listings utilize the 
internationally accepted number system 
for easy attribution of notes. Named the 
Numismatic Literary Guild’s Paper Money 
Book of the Year. 

Softcover • 8-1/2x1 1 • 736 pages • 6,750 
b&w photos • WP03 • $34.95 

Standard 
Catalog of 
World 
Paper 
Money, 
Specialized 
Issues 
Volume I, 

7th Edition 
by Colin R. 
Bruce II & 

Neil Shafer, 
editors 
Focus on 

250 years of specialized world paper 
money issues from more than 370 
note-issuing authorities. More than 

1 7.000 notes are cataloged and 
priced to cover your interests. 

Hardcover • 8-1/2x1 1 • 1 .096 pages • 

8.000 b&w photos • PS07 • $60.00 


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To order by mail send selection list and quantity with payment to: 


800 - 258-0929 • Dept. P7NS 


vU 


Krause Publications • Book Dept. P7NS ^ 
700 E. State St, lola, WI 54990-0001 


kp 


Monday-Friday, 7 a.m. - 8 p.m. 
Saturday, 8 a.m. - 2 p.m., CST 


Please add appropriate shipping, handling and state tax charges .u 
as follows: 

Shipping & Handling: $3.25 1st book; $2 ea. add'l. Foreign ^ 
addresses $10 1st book; $5 ea. add'l. Call for Overnight or UPS 
delivery rates. Sales tax: WI residents 5.5%, IL residents 6.5% 


® ^<^z: